How Foreign Aid Keeps Africa Poor | Magatte Wade

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PragerU

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

4.7 • 6.8K Ratings

🗓️ 16 June 2025

⏱️ 6 minutes

🔗️ Recording | iTunes | RSS

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Summary

Does foreign aid help Africa—or hurt it? Senegalese entrepreneur Magatte Wade knows that prosperity can’t be built on handouts, no matter how well-intentioned. So, what’s the real solution to African poverty? Economic freedom and policies that empower entrepreneurship. Here's why. 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	exclusively on Disney Plus.
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0:23.1	New season streaming June 26th exclusively on Disney Plus.
0:27.3	18 plus subscription required.
0:28.6	Teas and Cs apply.
0:31.9	Foreign aid is not the solution to poverty in Africa.
0:35.5	It's one of the reasons why Africa is poor. Yes, you heard that
0:39.7	right. For years, we've been sold the idea that aid from organizations like USAID helps lift
0:45.9	Africa out of its poverty. But here's the truth. If foreign aid worked, Africa would be the richest
0:51.3	continent on Earth by now. Free market advocate and former U.S. congressman Ron Paul described it perfectly.
0:57.8	Foreign aid is taking money from the poor people of a rich country and giving it to the rich
1:02.5	people of a poor country.
1:05.1	Walk through the streets of Dakar, Senegal, where I'm from, and you'll see exactly where
1:09.8	your aid money goes.
1:12.0	The city is filled with foreign residents working for the UN, non-governmental organizations, NGOs, and embassies.
1:18.1	They leave in a parallel economy, one that most Senegalese can only observe from the outside.
1:24.2	These aid workers enjoy lives of luxury, fine dining and expensive restaurants,
	...

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