Foreign aid is key to the development relationship between Africa, and the West. Most African development analysts view foreign aid as a continual atonement by the West for the scars of slavery, economic exploitation, bloody foreign interventions, political regime change etc. On the other hand, several pundits are displeased with foreign aid efforts, and label the agenda as modern slavery; a recipe for disaster, with a clear goal to keep Africa financially dependent on the West. The conversation focuses on the issues and facts, and pushes aside sentiments. It looks at the history of foreign aid, its promise, and the contemporary state of affairs surrounding foreign aid provision, and impact in Africa. It ends with looking at a new sustainable approach for Africa’s development.