Africa’s Forests Can Drive $30trn Bioeconomy By 2050 – Stakeholders

Stakeholders at a high-level forestry roundtable in Lagos have stated that Africa's forest resources could enable the continent to capture a significant share of the global bioeconomy, which is projected to exceed $30 trillion by 2050. They called on African countries to take greater ownership of their forest resources, develop domestic financing mechanisms, and build local value chains to prevent environmental degradation and retain more wealth from timber, carbon markets, biodiversity, and other forest-based activities. The roundtable was part of efforts to establish the African Forestry Trust Fund and included government officials, business leaders, academics, and development partners. Former Vice President Prof. Yemi Osinbajo, who chairs the Sustainable Forest Management Champions initiative, noted growing international interest.

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