When you clear a forest to plant maize and make charcoal, you’ve already put a price on nature—the future cash flows from the maize and the wood. The problem is that price is far too low.

In this episode of The Samuele Tini Show, I speak with Josep Oriol, Managing Partner at Okavango Capital Partners and a leading nature‑finance expert working across Sub‑Saharan Africa.

A Catalan who fell in love with African wildlife as a child, Josep trained as a lawyer, moved into venture capital and banking, then finally to Southern Africa to build a different kind of private equity firm—one that backs nature‑positive businesses whose performance depends on how they treat forests, soil and water. Today, Okavango‑backed companies help protect around 8–9 million hectares of land (about twice the size of Switzerland) and create income streams for hundreds of thousands of rural people.

We dive into:

• The mispricing of nature: every land‑use decision—from forest to maize field—is already a price signal, and why that’s dangerous if we ignore the true value of ecosystems.
• Forest carbon in practice: the story of BioCarbon Partners, REDD+ projects, and rural families living on ~$20/month in cash who now earn income by keeping forests standing.
• Carbon market backlash: Josep’s response to critics of carbon credits, and why, compared to agriculture, mining or logging, high‑integrity projects are often far more transparent and generous to local communities.
• Three big opportunity themes:
  • smarter agriculture and agroforestry to boost yields and cut waste,
  • tech for soil, post‑harvest, insurance and finance,
  • monetising ecosystem services via tourism, carbon, biodiversity and water credits—and why fuelwood is still the elephant in the room.
• Why classic 5‑year 10x PE funds don’t fit Africa: and how Okavango uses longer horizons and flexible instruments (loans with equity options, convertibles, prefs) instead of only straight equity.

We close with Josep’s advice for entrepreneurs in nature‑based sectors—live with existential threat, love cash flow and margins, and assume everything will take twice the time and three times the money—and his vision of Africa’s future looking more like South Korea or Malaysia than Europe, if we get the nature piece right.

If you care about where climate capital should actually go, this is a sharp, grounded conversation from inside the deal flow.

We talk a lot about tree planting, but far less about what happens to all the agricultural and organic waste we burn or dump. That’s where biochar comes in.

In this episode of The Samuele Tini Show, I’m joined by Luisa Marin, Executive Director of the International Biochar Initiative (IBI). After 25+ years in conservation with organisations like Conservation International and The Nature Conservancy, Luisa moved into carbon project development—and discovered biochar: a carbon‑rich “black sponge” made by pyrolysing crop residues, prunings, manure and other organic waste instead of letting them rot or burn.

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Done well, biochar can:

• Lock away carbon in soils and materials for hundreds to thousands of years

• Regenerate soils, boosting water retention, porosity and microbial life

• Cut fertiliser and irrigation needs for farmers

• Create new revenue streams through products and carbon credits—especially in the Global South

Luisa explains how research suggests biochar could remove up to 6% of global annual emissions—roughly like switching off 800 coal plants for a year—and why just 1 gram of biochar can have the surface area of two tennis courts. She also talks frankly about “good biochar” vs “bad biochar”, the importance of standards and lab tests, and the most common mistake she sees: projects chasing carbon money without proper technical and financial feasibility or patient capital.

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We also hear real examples from Kenya, Zimbabwe, Ghana and Latin America, where farmers and communities are already turning waste into value using both industrial and artisanal kilns—with support from NGOs, digital MRV tools and local governments.

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If you care about climate action, soil health and future markets in the Global South, this episode is a clear, grounded introduction to one of the most powerful—and underrated—tools on the table.

In most emerging markets, “sustainability” has been designed for big exporters, banks and multinationals. Everyone else – the micro, small and medium businesses that actually employ people and move the economy – is basically left out but more and more customers are asking for proofs.

In this episode, Luke Hayman, Executive Director of Sustainable Kenya, explains how his team is trying to flip that script with an Africa-first sustainability infrastructure.

Instead of 40-page ESG questionnaires in foreign jargon, they use:

• Short, contextualised assessments in English and Swahili

• AI to analyse answers, documents and even voice notes

• Clear scorecards plus realistic next steps, not just a vanity score

• A growing public directory of businesses that can actually prove what they claim

We talk about why sustainability is fast becoming a language of credibility in Kenya: if you can show evidence, you unlock customers, finance and partnerships; if you cannot, you are increasingly invisible. Luke also shares what Kenyan consumers are really saying about “sustainable products”, why price and trust still block action, and how shared data could stop every investor inventing their own ESG scoring system.

If you are tired of ESG theatre and want to see what practical, bottom-up sustainability looks like, this conversation is for you.

Special Episode — Recorded live at the Oppenheimer Research Conference 2025. The global conservation debate is loud — but often poorly informed about what people who live with wildlife actually think. In this revealing episode, researchers Dr. Darragh Hare (Oxford) and Dr. Lovemore Sibanda share evidence from multi-country surveys exploring views on militarised conservation, ranger powers, trophy hunting, wildlife crime penalties, and protected area governance.

What they found is both nuanced and surprising: • Communities living near wildlife aren’t always opposed to ranger enforcement • Support varies dramatically depending on governance models • Magadi (Kenya) stands out as a case where community scouts foster high acceptance • Assumptions from global media often misrepresent local realities • Sustainable conservation must factor in perspectives of those most affected

A crucial episode for anyone designing policy, funding projects or shaping the future of African conservation.

pecial Episode — Recorded live at the Oppenheimer Research Conference 2025. How do we build conservation models that work for both people and nature? In this eye-opening conversation, Lessah Mandoloma (Oxford) and Katie Mackenzie (Jamma Conservation & Communities) unpack the principles of human-centred conservation—a framework that challenges siloed thinking, brings communities into decision-making, and addresses the real trade-offs that shape conservation outcomes.

They explore: • Why conservation must start with honest conversations about power, rights, and benefits • How to break silos between health, climate, food systems and biodiversity • Why communities must be treated as partners, not passive beneficiaries • The importance of co-defining goals and returning research findings to communities

A hopeful and practical roadmap for conservation that recognises humanity as part of nature—not outside of it.

Stop Chasing Sexy Startups: Why Boring Businesses Win in Africa

Fifteen years ago, Kyle Schutter had a choice: get a PhD in biofuels or move to Africa and start a biofuel company. He chose the second option — and landed in Kenya after what he calls the “blue cheese test”: if a country could produce local blue cheese, it probably had enough cold chain, middle class and basic infrastructure to build serious businesses.

His first venture, a biogas company selling to low-income farmers, raised money and revenue… but never made a profit. His second, a Thai restaurant in Nairobi buying from poor farmers and selling to rich Nairobians, was profitable from month one. That contrast led him to a simple conclusion: a good entrepreneur in a bad business will still lose.

Today Kyle runs Kuzana, an investment and acceleration platform that backs what he proudly calls “boring and profitable businesses” — soybean aggregators, agri-SMEs, and other non-flashy companies that feed the economy and can grow without burning cash. Kuzana offers small, fast capital (starting around $20k), plus a 12-week programme focused on focus, professionalisation and community. On average, companies in the programme 2x their revenue and gross profit in just 12 weeks.

We talk about why tech in Africa is often overbought, why SMEs face 100% interest locally while the same trade can be financed at 10% in Europe, and what it takes to mint 1,000 millionaires from “boring” businesses. Along the way, Kyle shares concrete stories — like Greenwells, a soybean aggregator that 4x’d in seven months and produced Kuzana’s first on-paper millionaire.

If you care about where real, scalable wealth in Africa will come from, this episode is a sharp, honest reality check.

Special Episode — Recorded live at the Oppenheimer Research Conference 2025. In South Africa’s fight against rhino poaching, data—not emotion—drives progress. Conservation researchers Dr. Timothy Kuiper and Lucy Chimes share the results of their multi-reserve study on what actually reduces poaching. From aerial patrols, drones, and canine units to the controversial dehorning strategy, they discuss what works, what doesn’t, and why context matters. The evidence shows dehorning can significantly reduce poaching—but only when combined with strong security, community partnerships, and demand-side solutions. A rigorous, evidence-based look at how science is shaping the next chapter of rhino conservation.

Special Episode — Recorded live at the Oppenheimer Research Conference 2025. What does it really take to make wildlife land use financially sustainable? Veterinarian and impact-investing specialist Dr. Susan De Witt explores the economics behind conservation, from private conservancies to community lands. She explains how revenue models (photographic tourism, hunting, live sales, and wildlife meat) interact with property rights, wildlife user rights, and access to finance. We unpack the successes of Namibia’s community conservancies, lessons from South Africa’s private sector, and what it will take to channel capital toward conservation that pays people fairly and protects ecosystems.