SA biodiversity economy and investment indaba - a collective action for thriving nature and people

The Department of Forestry, Fisheries and the Environment (DFFE) will host the inaugural Biodiversity Economy and Investment Indaba at Birchwood Hotel and OR Tambo Conference Centre in Gauteng from 25-27 March 2024, under the theme: Collective Action for Thriving Nature and People.

The President of the Republic of South Africa, His Excellency, Mr Cyril Ramaphosa will address the Indaba on 26 March 2024. The Indaba will bring together a range of stakeholders in the biodiversity sector including government officials, traditional leaders and healers, academia, business, communities and youth structures.

Cabinet recently noted the review of the National Biodiversity Economy Strategy (NBES), which will be at the centre of discussions at the Indaba. The NBES aims to leverage the biodiversity economy to promote conservation, and species and ecosystems management. This strategy will also promote growth and transformation in the biodiversity sector.

The NBES is fully aligned with the goals of the White Paper on Conservation and Sustainable Use of South Africa’s Biodiversity which are Conservation, Sustainable Use, Fair and Equitable Sharing of Benefits and Transformation.

The indaba will be a blend of a conference format, networking session and exhibitions. The objectives of the Indaba include, among others, mainstreaming the Biodiversity Economy imperatives across all 4 goals of the White Paper on conservation and sustainable use of South Africa’s biodiversity, and the sector’s contribution to addressing poverty, unemployment and inequality; mobilising investment for the biodiversity sector and associated value-chains as well as showcasing market ready biodiversity products and services from across the biodiversity economy value chains through exhibitions for business-to-business trading, networking and sustainable partnerships.

The exhibitions include biotrade/bioprospecting, wildlife economy, eco-tourism, forestry, fisheries, ocean and coast and marine tourism.

Brief overview of the SA Biodiversity Sector

South Africa has exceptional biodiversity, much of which is unique and makes us one of the World’s like-minded megadiverse countries. This biodiversity wealth gives people tangible benefits like food, clean water, medicine, and materials. It supports agricultural and fisheries production and helps protect us from natural hazards such as droughts and floods; and provides a vibrant tourism industry while offering natural spaces for recreational, spiritual, and cultural activities.

SA’s economy is dependent on this biodiversity. For example, biodiversity-based tourism generates R31 billion in the economy annually, and our almost 2000 medicinal plant species contribute to the African medicinal sector approximately of more than R3 billion per year. The sector supports many jobs across a range of sectors. As of 2018, the sector has been maintaining over 418 000 sustainable jobs. Many of these jobs are created in rural areas, providing an opportunity for contributing to the rural economy.

Whilst protected areas are providing good refuge for species and ecosystems, our biodiversity is declining at an unprecedented rate. Thus, there’s more work to be done to ensure that this rich endowment is conserved for the benefit of all South Africans and future generations. For more information on the Biodiversity Economy and Investment Indaba, visit www.dffe.gov.za