Great hopes were attached during the process of decolonisation in Africa to potential of higher learning in the newly independent countries as a contribution towards social development. Nowadays it is generally accepted that the situation especially at universities is far from the originally optimistic expectations. Though there are many reasons for the decay, this article concentrates on the issue of financing considered to be a crucial aspect, which had not been attended in a proper manner. It is argued that a holistic view on financing of universities is required. This fact has been severely neglected by African governments and foreign donors alike. If such a need is ignored in the future too, no other efforts or medicine will help to develop the universities into the important institutions they were and are supposed to be.
