Is neo-colonialism a valid excuse for explaining why the global south is lagging behind?

It seems to be the only logical answer, other than some people are just not fit to rule themselves.

And it’s not like there isn’t some truth to it, Chocolate companies are happy taking most of the Cocoa from underdeveloped nations that don’t have bargaining power.

And there’s history of western powers interfering with the politics of global south from the 60s and on.

If it’s neo-colonialism and rather the usual excuse of mismanagement by poor nations. Then what can first world countries do to help? And should they even?

Are we looking at too narrow a timeframe? It’s only been 50 or so years since the last colonies gained indepeendence.

What are your thoughts on this matter? What should be done about the global south?