Though Transnational Education (TNA) is historical, it has gained momentum under the auspice of the General Agreement on Trade in Services (GATS) administered by World Trade Organizations (WOT). Under this provision Higher education has been marketed a cross boarders with some degree of success. This desktop research delved in analysis of past research on the topic. The objective was to establish the rationale for transnational higher education, and emerging issues over the providers, mode of supply, the potential of the market; pedagogy and curriculum. Past research reveals that Transnational Education (TNA) is anchored in economic, political, cultural and educational rationales. The global market for TNA is largely uneven and asymmetrical between nations. While some nations are largely exporters (UK, US, Australia), others are primarily importers- Africa, Latin America and Central Asia. The modes of provision include cross boarder supply, commercial presence and presence of natural persons. The potential of the market is promising- commercial presence being the largest. The emerging issues include competition, apartheid and cultural imperialism, pedagogical differences, autonomy and control of higher education, loss of learner autonomy and mutual respect, confusions on qualifications and transfer of academic credits, escalated costs, commercialization and commoditization of knowledge, dominant use of English language, and de-contextualizing of curriculum. Quality assurance and accreditation is also at stake since the national/states capacity for regulating the supply of trans-national education is limited. Literature reveals on going debates and emerging responses such as the development of Code of Good practice in the provision of TNE. The study recommends that educational policy makers, researchers and senior administrators should work in collaboration with government, non-governmental organizations and higher education institutions to discuss the various issues raised in view of informing the future direction of TNE.