Europe

The legacy of colonialism still lives on for the simple fact that the colonial institutions are yet mostly in place: European missionary schools, banana "republics", colonial banks, unfair agreements between the Western powers and their ex colonies, and so forth. The local elites of the Global South play an intermediary role between the West and the Global South. They are first taught Western values and ideologies by prestigious Western institutes then sponsored and brought to power by either "international" financial institutes like the IMF and the World Bank or foreign political bureaus, in order to act in the service and interest of the West. Their entire pedagigical and political formation is brewed outside their respective nation and tailored in way that is suitable for the West to continue its hegemonic role in a more discrete manner.

And the cold war leaders you mentioned (Amin and Suharto) further prove my point, both being dictators that were propped up by the British colonial army and the United States, respectively, and both having led crackdowns against (leftist) native uprisings. (And please do not conflate historical personalities from different historical periods with their own specificities that cannot be liberally contrasted with the modern era.)

I say all of this not because of some ancient, historical hatred to the West, nor as an apologia for our corrupt, western-backed governments. This is just the reality we third world citizens are still experiencing to this day. To quote Michel-Rolph Trouillot:

Injustices made to previous generations should be redressed: they affect the descendants of the victims. But the focus on The Past often diverts us from the present injustices for which previous generations only set the foundations.

The article clearly states that the Herero and Nama people, the ones who were victims of the genocide refused this settlement because it adds insult to injury (1 billion euros aid over a thirty year period).

Furthermore, from Wikipedia:

Negotiations between the German and Namibian governments led to a deal in 2021 in which the German government agreed to contribute 1.1 billion euros (USD$1.3 billion) in the form of ex gratia development aid, while rejecting any legal responsibility for the genocide.[129]

The deal was vocally rejected by most of the organizations representing Herero and Nama people, who had demanded their own right to negotiate directly with Germany over any settlement.[130] In 2023, the Landless People's Movement and traditional leaders from the Herero and Nama communities sued in Namibian court to nullify the National Assembly's resolution of approval for the settlement.[131] Although favorably contrasting the deal with more limited British and Dutch efforts at confronting past colonial crimes, German sociologist Henning Melber refers to the joint German–Namibian statement as "a soft version of denialism" that "offers no true reconciliation".[130] International law expert Matthias Goldmann suggested that the deal may not have been as selfless as it initially appears, while it "seemingly confirms [Germany’s] civilizational superiority".[132]

Edit: I should've clarified in my original comment what I meant with reluctance in acknowledged and compensation is failure to take actual accountability and pay out fair reparations, not merely bribing an African government and calling it a day. This is the same government that has sent billions in aid to Israel over the years.