Global targets for conservation and restoration are growing, yet financing biodiversity at scale remains a challenge—especially in regions with limited state capacity. Southern and East Africa offer an overlooked solution through decades of wildlife-based land use (WBLU)—such as ecotourism, hunting, and game meat—on private and communal lands. These models have delivered ecological and socio-economic benefits, often without subsidies or carbon finance. This seminar presents the first structured financial analysis of non-state WBLU enterprises, highlighting an early, practical form of biodiversity finance. While current debates frame biodiversity finance as a future goal, these landholders show how private investment and local enterprise already support restoration and conservation—offering key insights for policymakers and investors.