According to Epistemology, the study of knowledge theories, and the state of knowing, there are a number of economic challenges that comes with the state of knowing and the process of managing the acquired knowledge. These challenges range from the initial stage of knowledge creation through storage to final use.

In the creation stage, libraries and information providers would require money to buy knowledge in explicit form thus books and other information carrying entities. However not all libraries let alone information providers have enough funds to help them carry this activity. Locating the knowledge resources is also another aspect that needs money. For example in that case of tacit knowledge, locating who has what knowledge and make them share with other require the availability of funds. This is true when it comes to transport or paying the knowledge experts.

In the storage stage, libraries and information providers would require money to help them perform all storage activities. These activities include buying for storage equipment, and paying for those to do the arrangement and organization of the materials. In this technological era, most of information is stored on Databases. However not all libraries have the human resource to perform these activites.Training library staff and paying for the services would require money.

In the use phase, activities like user needs assessment and delivery of information would require money. In the case of delivering information to the illiterate, the deaf, the dumb, and others, would require information to be changed into a form conducive to them. Most of these activities need money.

Most African libraries are poorly funded and this is a well-known fact. It therefore becomes a problem when it comes to knowledge management issues that require money. Most of them fail due to lack of funds.

African countries should therefore come forth and raise the financial help they give to libraries to help them carry out their knowledge management activities.