The Thinking Muslim

The Price of Progress: Economic Realities in Africa with Prof. Abdoulaye Ndiaye

Feb 20, 2025
In this discussion, Abdullah Ndiaye, an Assistant Professor of Economics at NYU Stern, shares insights on Africa's economic landscape, emphasizing the continent's resource wealth and the impact of colonial legacies. He advocates for moving beyond aid dependency to fostering trade and investment, while addressing the challenges of brain drain. The conversation highlights the need for localized solutions, the potential of Africa's youth, and critiques the complexities of capitalism on the continent, calling for sustainable growth through community involvement and Islamic finance.
Ask episode
AI Snips
Chapters
Transcript
Episode notes
ANECDOTE

Kermasar: An African Microcosm

  • Prof. Ndiaye describes Kermasar, a Dakar neighborhood, to illustrate Africa's economic realities.
  • It evolved from a sparsely populated area to a congested city with informal economic activity, pollution, and youth unemployment.
INSIGHT

Youth: An Untapped Resource

  • Africa's young population (75% under 35) presents more of an opportunity than a challenge.
  • The key is harnessing this potential through increased productivity, particularly in IT services.
INSIGHT

Colonial Legacy and Intra-African Trade

  • Post-colonial infrastructure in Africa is geared towards exporting raw materials, not intra-African trade.
  • This necessitates industrial policy and stronger regional trade agreements to boost local value addition.
Get the Snipd Podcast app to discover more snips from this episode
Get the app