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It is a well-known fact that Africa continent is grappling with developmental challenges. The main objectives of this paper therefore are to examine the impact of neoliberalism on these developmental challenges and to encourage African leaders to take a bold and radical departure from the norm in order to chart a new course of development which will take the continent out of the woods of economic retardation and development deficit which envelope the region now. Drawing on the case study which centre on African realities and experiences, the paper discovered that the claim that neo-liberalism is the undisputable means of attaining economic development in Africa is an illusion. On the strength of this, the paper expands on the theory of assimilation with its concomitant smart or strategic protectionism through the adaptation of foreign technology, promotion of education and encouragement of entrepreneurship as means of genuinely engendering economic development in African. The research adopts qualitative and case study methodology. Similarly, the work embraces inductive research approach as the research process systematically focuses on finding answer to the question Of, What effective step can African governments take in order to candidly overcome the challenge of underdevelopment? [ABSTRACT FROM AUTHOR]