Nature has long been the invisible foundation of economic growth. Forests regulate climate, wetlands prevent floods, and healthy ecosystems and biodiversity underpin agriculture and human health. Yet these vital services rarely appear in national accounts. But a quiet revolution is underway: countries are measuring and valuing nature’s contributions to their communities and economies through natural capital accounting (NCA). With support from the World Bank’s Global Program on Sustainability (GPS), some of the most compelling leadership on NCA, and valuing nature, is emerging from Africa.
In Ethiopia, natural capital accounts are foundational to the country’s work in climate resilience and sustainable land management. With renewable natural capital comprising 28% of the country’s wealth, this stewardship is essential for supporting Ethiopia’s economic development. To that end, through the World Bank’s Climate Action through Landscape Management (CALM) project and the Ethiopia Strategic Investment Framework, the country has developed land cover and ecosystem services accounts. An Investment Prioritization Tool is guiding decisions on land use and restoration, and the Ministry of Planning and Development is working to mainstream natural capital accounting into Ethiopia’s ten-year development plan.
In Rwanda, the government has positioned itself as a continental leader in NCA through the intensive compilation of data and the development of land, water and minerals accounts. As host of the 7th Global Policy Forum on Natural Capital in 2024, Rwanda showcased its integration of biodiversity and ecosystem data into national statistics. The National Institute of Statistics of Rwanda is embedding natural capital in its System of National Accounts. This effort to mainstream natural capital into national planning and decision-making processes is not just technical—it’s strategic, supporting Rwanda’s ambition to become a hub for green growth, sustainable investment and nature-based tourism in Africa. And it is paying off: 2024 saw record domestic and international spending from tourism, and record employment in the sector.
Uganda has taken a comprehensive approach, developing water, forest, and ecosystem services accounts. In addition to integrating natural capital accounts into national statistics, Uganda has made progress in integrating natural capital into macroeconomic frameworks and policies, including through its Third National Development Plan and the Country Climate and Development Report. Tools like the Rapid Environmental Economic Assessment and UGAMOD, a macroeconomic model tailored to environmental data, are helping policymakers to look beyond GDP in assessing economic progress and to evaluate trade-offs and design more resilient strategies.
As one of the pioneers on NCA in Africa, Zambia has developed accounts for forestry, water, and land, and is finalizing accounts for ecosystems. These accounts are directly informing the Ninth National Development Plan and have shaped the design of TRALARD II, a World Bank investment in climate-resilient landscapes. Zambia has also applied Integrated Economic-Environmental Modeling (IEEM) to simulate the impacts of green investments. Findings have shown how targeted investments in agriculture, forestry and related land uses could yield impacts for the country – in gains for GDP and national wealth – thus lifting thousands of people out of poverty and avoiding hundreds of million tons of CO₂ emissions by 2050. Wildlife Protected Area Accounts, in particular, support the country’s flourishing nature-based tourism, which has accounted for as much as 6% of GDP and a half million jobs. Zambia’s institutional coordination and internal capacity-building efforts are laying the groundwork for the long-term integration of natural capital into policy and planning.
Increased interest in the natural wealth of Africa and visionary leadership is accelerating the demand for and implementation of natural capital accounting in the region. Natural capital underpins African economies and will remain vital to achieve inclusive and sustainable prosperity in the region. Smart and resilient development cannot be achieved without the sustainable management and use of natural wealth.
Partnership with GPS has helped establish a collaborative environment for knowledge sharing and capacity building that is instrumental in fostering nature-positive policy dialogues and scaling up successful practices. These pioneering efforts are not just about environmental stewardship; they are about economic transformation. By valuing nature, these countries are redefining what prosperity means in the 21st century. Looking ahead, the opportunity is immense: to scale these models globally, to embed NCA into international financial systems, and to ensure that nature is no longer treated as a luxury but as a core asset of economic resilience and prosperity. Africa’s leadership in this space offers a blueprint for a more sustainable and equitable global economy.
