Magatte Wade, Unlocking Prosperity in Africa (#53)

Kevin is joined by Magatte Wade, renowned for her TEDTalk and activism dedicated to unlocking prosperity in Africa. Magatte discusses the challenges and opportunities facing Africa today. She elaborates on her journey since the talk, focusing on her efforts to improve Africa's economic conditions through innovative startup cities and advocating for economic freedom. Magatte provides a deep dive into the intricacies of creating prosperous environments in Africa, her personal experiences with bureaucratic challenges, and her vision for Africa’s future.

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Guest Bio and Links:

Magatte Wade is the world's leading African prosperity activist. She was made famous initially for a TEDTalk she made in 2017 about what she argues is an excessive regulatory environment in Africa which forces young Africans to emigrate for economic reasons. She is an entrepreneur, keynote speaker, and the author of The Heart of A Cheetah.

Listeners can learn more about Magatte Wade at her website https://www.magattewade.com/, on X @magattew, and on YouTube @MagatteWadeOfficial

Resources:

Why it's too hard to start a business in Africa -- and how to change it

The Heart of a Cheetah

Be the Solution: How Entrepreneurs and Conscious Capitalists Can Solve All the World's Problems by Michael Strong and John Mackey

Africa Unchained: The Blueprint for Africa's Future by George Ayittey

Why Africa Needs Startup Cities

Show Notes:

[0:00] Introduction
[0:50] Manscaped - Get 20% off with code KEVINROSE at manscaped.com
[2:30] Notion - Try Notion AI for free at kevinrose.com/notion
[4:20] Today’s guest is Magatte Wade
[6:50] Why it's too hard to start a business in Africa -- and how to change it
[12:00] Slavery in the 21st century
[14:50] Reasons Africa has been one of the fastest at adopting cryptocurrency and bitcoin
[17:00] What makes money ‘sound’
[19:55] Facet: The Future of Financial Planning - www.facet.com/kevinrose
[22:10] Question: What do you need to have happen so that rather than leaving Africa, there can be places in Africa that are entrepreneurial hubs that have true prosperity?
[27:00] “How come some countries like mine are poor while others are rich?”
[27:15] Stereotypes surrounding the African economy
[30:40] Magatte’s journey into entrepreneurship
[36:00] “You were always raised to criticize by creating. Got a problem with this? What's your solution? It doesn't have to be the right one, but get on that journey of solving.”
[45:15] Question: Where do you feel you are going to have the most impact in your mission?
[46:15] The Heart of a Cheetah
[47:30] Magatte discusses the conflicting African ideologies
[51:10] Question: Is it going to take a series of iterative changes or a revolution to have Africa prosper?
[57:30] The concept of startup cities in Africa
[59:00] The British common law explained - Dubai being the example
[1:07:35] Próspera | Maximize Human Prosperity
[1:19:00] Partners in Próspera
[1:23:00] Inspirations, mentors, and closing thoughts