Higher education has long been seen as a vehicle for social mobility for individuals and an engine for national advancement. Yet, over the years, as governments worldwide have faced competing priorities and declining revenues due to economic challenges, funding for post-secondary institutions has been negatively impacted. For example, in the United States, governments have significantly reduced funding to the point that universities have moved away from reliance on government funding. Other countries, such as China, are committed to funding higher education for the foreseeable future. Across Africa, especially Southern Africa, different national priorities have increasingly taken away from the higher education budget. Namibian and South African universities receive over 50% of their revenue from the government; however, in recent years, institutions have seen over 15% reduction in government funding. This study investigated how universities in Namibia and South Africa, through the voices of their leaders, are preparing to deal with reduced government funding to ensure financial sustainability and continue to meet the institutions' missions. The qualitative multiple-case study spans four institutions: the University of Namibia, the Namibia University of Science and Technology, the University of Johannesburg, and the University of Pretoria. Data was collected from nine university leaders through semi-structured interviews and document analysis. Overall, the study found that leaders at all institutions already think about financial sustainability, as they have penned down strategic plans to address the revenue gap. Further findings indicate that university foundations and endowments are still in their infancy and cannot fill the funding gap left by the government. The challenges to funding higher education are multi-faceted, as it is a combination of a lack of government policy, unclear funding models, a young alum base, a lack of donation incentives, and an economic apartheid legacy. Given that governments will likely continue to reduce their allocations due to competing priorities, higher education and government leaders in the region must explore robust alternative sources, funding models, and policies to ensure education remains accessible and a skill development tool for national development. [The dissertation citations contained here are published with the permission of ProQuest LLC. Further reproduction is prohibited without permission. Copies of dissertations may be obtained by Telephone (800) 1-800-521-0600. Web page: http://www.proquest.com/en-US/products/dissertations/individuals.shtml.]