As of 2019, poverty in Africa continues to be a prevalent issue. According to Brookings Institution, around one in three Africans, or 422 million people, live below the global poverty line. African people, in general, represent more than 70 percent of the world’s poorest people. While other parts of the world have dedicated some effort to combat the issue of poverty in places like Africa, it is apparent that these efforts are not enough. Thankfully, there are wealthy people from Africa who are trying to help make a difference, such as Senegalese businesswoman Magatte Wade.
Magatte Wade specializes in selling organic skincare products through her company, Tiossan. She believes that entrepreneurship is an important step in achieving economic prosperity throughout the world, including her home continent of Africa. Additionally, Magatte Wade fights poverty in Africa by providing TED Talks and documentaries on the issue of poverty in Africa and has spoken about what she believes are the core economic issues facing the continent. Wade attributes the primary issue of poverty in Africa to unemployment, which she believes is the result of people not being able to learn how to be entrepreneurs.
Wade Takes Action
Magatte Wade fights poverty in Africa in her home country as well. She has worked to bring the manufacturing of her products to Senegal, particularly to her hometown, Mekhe. In addition to her skincare products, Wade helps local businesses in Africa, such as CAWAAN, which produces the leather bags that hold Wade’s skincare products. The people in charge of CAWAAN now commit themselves to work harder and focus more on optimization due to Wade’s words.
Wade has also worked closely with the mayor of Mekhe to provide opportunities for things like farming, energy, training and education, including creating a business school in Senegal that aims to teach important entrepreneurial skills to young people. According to a 2018 annual report by the Fraser Institute, Senegal ranked at number 125 out of 162 countries in terms of economic freedom. While the country still has a long way to go, Wade’s efforts are helping to push the country in the right direction.
Center of African Prosperity
In 2019, Magatte Wade became director of the then-recent Center of African Prosperity, in association with Atlas Network. The purpose of this organization is to promote movements such as free markets, property rights and institutions to build strong economic reforms throughout Africa. According to the company website, Magatte Wade fights poverty in Africa by bringing about inclusive prosperity, a pushback against negative stereotypes and a message of freedom for an international audience.
While poverty in Africa continues to be a prevalent issue as of 2019, entrepreneurs like Magatte Wade are doing what they can to ensure that they create more jobs throughout the continent. According to World Bank, Senegal has experienced economic growth of around 6 percent since 2014 and the Brookings Institution report estimated that by the end of 2019, the rate of people escaping poverty in Africa per day will be around 3,000. This suggests that there may very well be brighter days ahead for Africa.
– Adam Abuelheiga