Africa is experiencing an educational crisis of unprecedented proportions in higher education. Having been hailed in the 1960s as agent of modernization, social mobilization, and economic growth, most African universities are now tumbling down under the pressures of diminishing financial resources. From all indications, Africa is lagging behind other developing regions in terms of public expenditures particularly on education, availability of educational facilities, equal access to education, adequate pools of qualified teachers, and sufficient numbers of professionals and skilled workers. Pertinent data show that most African governments in the 1960s and 1970s made comparable progressive accomplishments in higher education. However, these accomplishments steadily disappeared in the 1980s. What went wrong in the 1980s? Why is higher education now such a convenient target for African leaders/governments, when pressured to trim their overextended public sector? To what extent is the lack of multiparty democracies affecting the deteriorating state of higher education in Africa? Is the declining importance attached to education in sub-Saharan Africa a reflection of the lack of education among Africa’s tyrannical rulers, hence the low appreciation of education? What role did the foreign financial institutions play in the African educational system? How can we turn the educational crisis around? These questions not only address African educational issues but also help us to explain the scope of this crisis. In a comparative analysis, this study describes the main African higher educational problems, identifies the root causes of the problems, and finally examines the implications for the twenty-first century.