“Biodiversity is not a luxury it is the foundation of our economies, our health, and our survival.” These were the powerful words of South Africa’s Deputy Minister of Forestry, Fisheries and the Environment, Narend Singh, during a landmark address at the Southern African Development Community (SADC) Regional Dialogue held Monday in Cape Town.
Facing a sobering reality, Singh urged African nations to rethink how they fund biodiversity conservation as the continent grapples with the rapid decline of ecosystems and species. More than 7,000 species across Africa are currently at risk of extinction posing not only an ecological crisis but a major threat to long-term economic and food security.
$200 Billion Global Funding Gap
At the heart of Singh’s message was a call to close the vast global biodiversity financing gap, currently estimated at US$200 billion annually to meet the goals of the Kunming-Montreal Global Biodiversity Framework by 2030.
“National budgets alone are no longer sufficient,” Singh warned. He emphasized the urgency of exploring innovative and diversified financing tools public-private partnerships, biodiversity offsets, strategic tourism revenue management, and stronger permit systems.
He added that well-developed National Biodiversity Strategies and Action Plans (NBSAPs) are crucial for guiding both domestic and international investments: “A plan on paper is not enough it must be matched by budgets and political commitment.”
BIOFIN: A South African Success Story
Singh highlighted South Africa’s own progress through the UNDP-supported Biodiversity Finance Initiative (BIOFIN), which has helped create a comprehensive fee-setting system for biodiversity permits. These tools enable both cost recovery and economic valuation of natural resources.
Revenue generated from protected area entry fees, eco-tourism concessions, and biodiversity permits has played a key role in sustaining conservation efforts.
“Municipalities are also contributing,” Singh said, pointing to South African cities that have provided rate relief to conservation zones saving over US$124,000 in just three years. He also praised Botswana for its dramatic sevenfold increase in municipal rate collection, describing it as “a model for local government-led biodiversity finance.”
Digital Tools for Transparency and Growth
Looking ahead, Singh announced the May 22 launch of South Africa’s new Biodiversity Offset Portal timed with the International Day of Biodiversity. The platform will provide transparent, accessible data on biodiversity offset projects and standards, bolstering accountability and attracting funding for conservation efforts.
It will work in tandem with the Biodiversity Economy Investment Portal launched in 2022, which is now fully institutionalized and actively supports biodiversity-focused SMEs in sectors such as eco-tourism, bio-trade, and green infrastructure.
“The government has allocated a dedicated budget for the continued expansion of this portal,” Singh said, reaffirming its role as a cornerstone in South Africa’s green economy strategy.
Strengthening Regional Collaboration
The Cape Town dialogue brought together officials and experts from across the SADC, East African Community, and other Anglophone countries. It served as a platform for exchanging knowledge, best practices, and common challenges in biodiversity strategy development.
Singh closed his address with a call for solidarity and innovation: “Let us think beyond silos, beyond borders. Our ecosystems are interconnected, and so must our solutions be.”
As African nations push forward toward their 2030 biodiversity goals, Singh’s message is clear safeguarding nature is not just an environmental necessity, but an economic imperative for the continent’s sustainable future.