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Managing knowledge in general and indigenous knowledge in particular has become an important and valuable input in the management of sustainable development programmes. Historically, indigenous knowledge has been downplayed in the management of information. The tendency among library and information professionals has been to emphasize recorded knowledge at the expense of unrecorded indigenous knowledge. However, the growing realization that indigenous knowledge has a role to play in national development as well as the knowledge management environment has led to the growth of interest in preserving and managing it. The major challenges to the management and preservation of indigenous knowledge are issues relating to collection development, intellectual property rights, access and the preservation media.