This chapter explores how neoliberal higher education reforms in the United Republic of Tanzania (URT) during the 1990s and 2000s were shaped by the history of governance, schooling, and foreign donor involvement in the country following its independence in 1961. Against this backdrop, I examine how concepts of private versus public leadership, individualism, competition, and education’s place in the overall development scheme shifted over time, and the influence these changing conceptualizations had on the role of universities in Tanzania by the end of the first decade of the 21st century. In an international environment in which powerful funding agencies see neoliberal higher education policies and “knowledge societies” as the key to increased national competitiveness and poverty eradication in sub-Saharan Africa, this chapter shows how changes embedded in recent market-centered university reforms – in which the state is said to “steer” rather than “row” – have influenced the quest for equitable development.