Free Markets Can Free Africa | Magatte Wade

PragerU 5-Minute Videos

PragerU

Non-profit, Self-improvement, Education, Business, History

4.7 • 6.8K Ratings

🗓️ 25 August 2025

⏱️ 6 minutes

🔗️ Recording | iTunes | RSS

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Summary

Why is Africa poor? Is it because of its colonial past or is it because of present-day policies? Senegalese-American entrepreneur and philanthropist Magatte Wade answers these questions, and offers a new path for a brighter, more prosperous future for the continent. Get all our content ad-free on PragerU.com or download the PragerU app: https://l.prageru.com/45GvWlu Follow PragerU on social media: YouTube Instagram X/Twitter Facebook Rumble Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	When you have a pixel 10, you may get asked a few questions.
0:05.0	Like, what is that?
0:07.2	How did you do that?
0:09.1	And can we use your camera instead?
0:14.2	Ask more of your phone.
0:17.0	Google Pixel 10.
0:21.7	Is colonialism the source of poverty in Africa?
0:25.1	The answer to that question is a resounding no.
0:28.5	If you think it is, put the idea out of your head.
0:31.3	It's a falsehood.
0:32.5	So what is the source of Africa's problems, you might ask?
0:35.8	That's another easy one to answer.
0:38.8	Most people in Africa don't have enough money. And why is that? Such easy questions. Because they don't have jobs. And why don't
0:44.5	they have jobs? Because they don't have capitalism and free markets. They don't have enough
0:49.2	entrepreneurs. Entrepreneurs create jobs. Free markets allow them to do so. This should be obvious. Sadly, it's not.
0:56.4	Instead, people, you may be one of them, are blinded by ignorance. Ignorance about how the world
1:01.1	works, not just in Africa, but everywhere and for all time. In the 1950s, Singapore was a swamp
1:07.4	with zero natural resources. No minerals, no precious metals, no oil.
1:13.1	Today, its income per capita is twice that of the United Kingdom.
1:17.5	What created Singapore's wealth?
1:19.4	Capitalism, the free market, and the property rights and business-friendly environment that go along with it.
1:25.8	In the 1990s, Dubai was a patch of bleached sand. Now it's one of the
	...

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