Africa’s natural wealth takes centre stage as leaders call for shift from accounting to action
African policymakers, development partners and financial experts have called for greater use of natural capital accounting
ADDIS ABABA, October 21, 2026 — African policymakers, development partners and financial experts have called for greater use of natural capital accounting to shape economic policy, attract investment and support sustainable development across the continent.
The call came at the third Africa Policy Forum on Natural Capital, held recently at the Ethiopian Skylight Hotel in Addis Ababa, in collaboration with Ethiopia’s Ministry of Economic Planning and Development and the World Bank Group.
Natural capital accounting measures the economic value of resources such as forests, water, land, minerals and biodiversity, including the benefits they provide to people and economies. It helps governments look beyond traditional economic indicators such as Gross Domestic Product [GDP] to make more informed decisions about development, public spending and investment.
Held under the theme, “From Accounts to Policy: Positioning Natural Capital Accounting for Africa’s Policy, Finance and Investment Transformation”, the forum brought together government officials, national statistics offices, development partners, private sector representatives, civil society and academia to explore how Africa can better recognise and leverage its natural wealth. It featured high-level discussions, country case studies and presentations on emerging technologies, such as artificial intelligence and geospatial tools, that can improve natural capital accounting,
“Across Africa, our land, forests, water, biodiversity, oceans, and minerals sustain livelihoods and economies. And yet these contributions are often missing from economic assessments, public budgets, and investment choices, and overlooking them risks short-term gains at the cost of long-term prosperity,” said Hannah Abebe, Chief of Staff at Ethiopia’s Ministry of Economic Planning and Development.
“Producing accounts is not the end goal,” said Mahlodi Tau, Chief Director at the South African National Biodiversity Institute and Chair of the Africa Natural Capital Accounting Community of Practice. “The real value of natural capital accounting lies in its use. We want to see the natural capital evidence informing development planning, policy, budgeting, finance and investment.”
Unlocking Africa’s natural wealth for development
The forum noted that natural resources and ecosystem services contribute approximately 60 percent of the continent’s GDP, while nature-based sectors account for nearly two-thirds of employment in many African countries. Despite this enormous economic potential – the African Development Bank Group estimated Africa’s natural capital at US$ 7.6 trillion in 2020 – the value of natural resources remains inadequately reflected in national economic assessments and investment decisions.
Paolo Augusto, Principal Economist at Landscape Alliance described this disconnect as the “Africa paradox”, in which conventional economic indicators fail to capture the continent’s substantial natural wealth.
Participants also examined how placing an economic value on nature can influence investment decisions. Rayne van den Berg of Capitals Coalition explained how an assessment of the wider environmental and social value of a forestry estate in Tasmania, Australia, revealed benefits to society nearly ten times greater than those recorded on its traditional financial balance sheet. Presenting this evidence, she said, helped capture the attention of investors and company leadership.
Country representatives from Kenya, Ghana, South Africa and Nigeria shared their experiences. Kenya National Bureau of Statistics Geographic Information System Specialist, James Thuo, described a 14-year journey that led to a Physical Energy Flow Account [PEFA], which is now integrated into national accounting, helping Kenya measure economic activity alongside natural resources, beyond traditional GDP metrics. In South Africa, the National Natural Capital Accounting Strategy launched in June 2021 has helped to increasingly integrate nature and biodiversity into national economic and environmental decision-making.
Panelists also underscored the importance of African participation in shaping international sustainability reporting and valuation standards.
“Africa is about to be measured by a standard it did not write, using data it does not own, at a cost it cannot control,” warned Eugene Itua of the African Green Economy and Sustainability Institute, urging African institutions to actively shape emerging global frameworks.
Turning evidence into investment and action
Looking ahead, participants emphasised the need for stronger institutional coordination, greater technical capacity and closer integration of natural capital data into national development strategies. They also agreed on an action matrix for country-level follow up.
Bekele Shiferaw, Program Manager for the World Bank’s Global Program on Sustainability, said the priority must shift beyond producing statistical accounts to applying the evidence to real policy decisions. He also stressed the need to ensure that the communities protecting natural resources benefit from their sustainable management.
Closing the discussions, Innocent Onah, Chief Natural Resources Officer at the African Development Bank Group, highlighted four priorities: translating natural capital accounts into investment decisions; strengthening institutional ownership and coordination; building the technical capacity to generate credible evidence that attracts financing; and engaging the private sector as a key player. He underscored the importance of continued training through platforms such as the Africa Natural Capital Academy.
The Forum reinforced a shared commitment to making Africa’s natural wealth a measurable driver of economic transformation, sustainable investment and improved livelihoods.
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