Cape Town: Deputy Minister of Forestry, Fisheries and the Environment Narend Singh has called on delegates from governments across the continent to innovatively think about financing biodiversity, beyond the traditional funding from national budgets. According to the Deputy Minister, more than 7,000 species across the continent face extinction, which could harm Africa’s economic potential.
According to South African Government News Agency, ‘Biodiversity is not a luxury; it is the foundation of our economies, our health, and our survival. As you are aware that the financing gap to halt and reverse biodiversity loss by 2030 from all sources is estimated at 200 billion US Dollars annually. Every hectare of forest cleared, every waterway polluted, and every species lost diminishes not just our ecological wealth, but our economic potential,’ Singh said on Monday in Cape Town.
He was addressing the regional dialogue for member States of the Southern African Development Community, the East African Community, and other Anglophone countries on the update or revision of national and regional biodiversity strategies and action plans (NBSAPs). This regional dialogue offers an opportunity for countries that have already revised their NBSAPs to share good practices, address common challenges, and identify potential solutions. The goal of the NBSAP is to conserve and manage biodiversity to ensure sustainable benefits to the people of South Africa, through cooperation and partnerships that build on strengths and opportunities.
‘Strong NBSAPs are more than policy, they are strategic tools to unlock international finance, attract private investment, and guide public spending where it matters most. But a plan on paper is not enough – it must be matched by budgets and political commitment,’ he said. The Deputy Minister offered insights into the innovative finance solutions that were developed in South Africa through the Biodiversity Finance Initiative (BIOFIN) programme. The BIOFIN programme supports countries to enhance their financial management of biodiversity and ecosystems.
‘Through the BIOFIN programme, a framework has been developed to guide a fee-setting process for biodiversity permits, which enables cost recovery and value attribution to the natural resources. The basis for this work is that revenue from sources such as protected area gate fees, tourism concessions, conferencing facilities, fees and permits related to biodiversity can play an important role in supporting the financial sustainability of the conservation estate,’ he said. Through the programme, some municipalities have given rates relief to conservation areas leading to funds saved which can be further invested into biodiversity conservation.
‘The financial result of this has been 124,000.00 US dollars saved by conservation areas over the last three years. We were delighted to learn from the Botswana example, where their rate collection increased seven-fold,’ Singh said. A biodiversity offset portal will be launched on 22 May 2025 as part of celebrating the International Day of Biodiversity. The offset portal which will be publicly accessible is aimed at improving the way offsets are conducted for the benefit of funding protected area management.
‘The Biodiversity Sector investment portal was launched in 2022 and formally handed over to the Government of South Africa. The portal has been institutionalized within the department and established a Biodiversity Economy Investment Portal, officially recognised as an ongoing conduit of opportunities for investment in the Small and Medium Enterprises. The department has fully taken over the portal and allocated a budget towards its ongoing maintenance,’ he said.