Africa’s economic struggles are deeply rooted in historical injustices and perpetuated by contemporary global economic structures that maintain the continent’s dependency. While colonialism dismantled indigenous economic systems and subjected Africa to raw material export dependency, neo-colonialism continues to dictate economic policies through international financial institutions like the International Monetary Fund (IMF) and the World Bank. This chapter examines the systemic challenges facing Africa, including foreign aid dependency, debt entrapment, and the structural barriers imposed by globalization. Drawing on the theories of New Institutional Economics (NIE) and Dependency Theory, the chapter explores how Africa can break free from the constraints of neo-colonial economic domination by focusing on industrialization, intra-African trade, and pan-African integration. Africa needs to reclaim its economic sovereignty with redistributive policies, technological investments, and governance restructuring for self-sustaining development.