With the recent boost of emerging economies in African economic relations, a different philosophy of development co-operation is progressively gaining momentum. Indeed, there are critical differences in the way development co-operation is provided by traditional and emerging partners. For the latter, aid is only one element of a broader economic engagement toolbox. These new realties on the ground mark a qualitative change in the provision of development co-operation both in terms of sectoral allocation and modalities of delivery, which in turn impacts on outcomes as well as the challenges for the recipient countries. We evaluate concerns often raised in this respect (e.g. the lack of policy conditionality destroying Western efforts to promote better governance) and stress that a new set of challenges emerges for African governments in the light of these different engagement modalities. The challenges for African governments to make the most of the new modes of co-operation could be summarised as follows: i) to define a clear strategy; ii) to ensure maintenance; and iii) to enhance their bargaining position.