Payment for Environmental Services - A promising tool for natural resources management in Africa (October 2015)

13th October 2015

Payment for Environmental Services - A promising tool for natural resources management in Africa (October 2015)

Africa is resource rich and natural resources play a key role in its development. They form the basis of economic activities and livelihoods, especially among the poorest. In fact, the majority of the population is engaged in their use and exploitation, which represents an estimated 30 percent of the continent’s Gross Domestic Product (GDP).

However, recent economic growth has not translated into an increase of real wealth due to the costs of natural resource depletion. The sustainable management of natural resources is thus a key concern for the continent’s sustainable development, as exemplified by the African Development Bank’s strategy for 2013-2022. The strategy emphasises a transition to green growth as one of its two main objectives. However, natural resources management  in Africa has faced some major challenges, including an insufficient mobilisation of financial resources by countries and donors.