How Natural Capital is Developing the Next Generation of African Nature Finance Leaders

Africa has no shortage of talented professionals with the skills and ambition to tackle some of the world’s greatest challenges. But pathways into the growing nature finance sector remain limited.

As investment in nature grows, so too does the need for professionals who can work across conservation, business and finance. Africa’s green economy is expected to create 3.3 million new jobs by 2030, 60% of which are projected to be white-collar roles. Without the right experience and training, however, there is a risk that these opportunities will not benefit people from the communities and countries where they are created.

The Natural Capital Fellowship Programme was designed to help bridge this gap, giving emerging African professionals the opportunity to apply their skills to real conservation investments and build careers in a sector with enormous potential for the continent. Now in its third cycle, the Fellowship programme continues to attract a remarkable amount of interest from all corners of the continent. The most recent application round received more than 200 applications, with backgrounds ranging from ecology, geography and conservation science to investment management and actuarial science. The breadth and quality of applicants reinforce something we see repeatedly.

Africa does not have a talent problem; it simply has an opportunity problem.

At Natural Capital, we firmly believe that developing these opportunities for the people who live on this continent is one of the most profound ways that we can generate long-term impact. The Fellowship offers early-career professionals practical experience at the intersection of finance and conservation. Fellows sit within Natural Capital’s investment function, contributing to market research, investment analysis, financial modelling and due diligence, while supporting pipeline development and work required to move promising conservation opportunities towards investment readiness. To date, our four Fellows have come from four different African countries, bringing distinct skills, perspectives and professional backgrounds to the team.

The Natural Capital Fellowship gave me a unique opportunity to combine my background in finance with my passion for wildlife conservation in sub-Saharan Africa. It provided me with a highly practical and holistic understanding of how nature finance and commercial skills can be applied to conservation, while deepening my experience in market research, financial modelling, and project development. I come away from the Fellowship with far greater confidence in my skills in conservation finance and project development, but also with a deeper passion for, and belief in, building a sustainable future for wildlife conservation across Africa. 
Iain McDonald

Natural Capital Investment Fellow, 2026 cohort

Scaling nature finance in Africa will require more than capital.  It will require people with the skills to identify opportunities, understand landscapes and communities, assess risk, structure investments, and ultimately turn conservation potential into viable, investable projects. Building that expertise on the continent is therefore not separate from the growth of nature finance; it is fundamental to it.

If nature is to become a meaningful part of Africa’s economic future, African professionals must be at the forefront of shaping it. The Fellowship is one small but important contribution towards making that happen.

Theory
of change

Our theory of change aligns ecological restoration with inclusive local economic development and financial returns.

Goal

To safeguard critical wilderness areas in Africa that deliver long-term benefits for nature, people and sustainable economic development

01
Outcome 1:
Protecting & Restoring Nature

High-value ecosystems are secured, effectively managed, and resilient to climate change.

Output 1.1

High-value conservation landscapes are identified, secured, and established

Output 1.2

Conservation areas are effectively managed and ecologically restored

Output 1.3

Biodiversity, climate, and ecosystem health are monitored using robust science

02
Outcome 2:
Inclusive and Sustainable Development

Local communities experience equitable benefits, improved livelihoods, and active participation in conservation.

Output 2.1

Better jobs and diversified livelihood opportunities are created

Output 2.2

Individuals achieve higher levels of employment, fair wages, and economic stability

Output 2.3

Women and underrepresented groups are empowered and included in decision-making

03
Outcome 3:
Sustainable Finance for Nature

Conservation landscapes are supported by long-term, diversified, and scalable capital.

Output 3.1

Conservation projects are designed with the financial, legal, and ecological structures needed for investment

Output 3.2

Philanthropic, private, and public capital are mobilised and deployed at scale

Output 3.3

Sustainable revenue models ensure long-term financial resilience

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