The political economy of contemporary African states is perpetually dependent on those of the industrialized capitalist economies of Western Europe. Undoubtedly, this is attributed to early European imperialist incursion into Africa which led to the subsequent partition of the same territory in 1885. The devastating effect of the connection between the Global North and Africa is complicated by the following factors: the activities of multinational corporations (MNCs); the creation of the elite and bourgeois class; and, the presence of new entrants, like the North American countries of the United States of America (USA) and Canada, Japan, as well as China into the global industrialized capitalist economy. The basic elements of the unequal relationship between Africa and the Global North existed in the form of mercantilism, free trade imperialism, monopoly capitalism and multilateral imperialism. This inquiry, thus, examines imperialism and its overwhelming negative effects on Africa. Consequently, it also unveils the negative effects of the European colonial legacies in contemporary Africa. For its theoretical framework, therefore, the study adopted Lenin’s theory of imperialism which proffers strategic solutions to the perpetual dependence on the economies of African states by the Global North, much as the investigation examines the conceptual explanations of imperialism.  Overall, the study adopted qualitative analysis as its research method. In other words, historical research was considered for this research since secondary sources of data were reliably used.