"The report challenges the myth that Africa is poor. Indeed, it points out that its vast natural wealth can ... be the basis for an African renaissance," said UNEP's new executive director Achim Steiner.

"The economic importance of the environment is increasingly recognised by Africa's leaders as an instrument for development, for livelihoods, for peace and stability," Steiner added.

But he warned that without changes in policy or sufficient funding "Africa may take a far more unsustainable track that would see an erosion of its nature-based wealth and a slide into ever deeper poverty".

Despite its mist-covered mountains, national parks bursting with exotic game and sparkling coastlines, Africa accounts for only four percent of the multi-billion dollar global tourism industry, the report said.

Africa produces nearly 80 percent of the world's platinum, more than 40 percent of its diamonds and more a fifth of its gold and cobalt, yet its industrial base was "insignificant".

The 542-page report said the world's second biggest continent had enough land to feed its 800 million people, yet one in three Africans was undernourished.

It possesses about 10 percent of the world's global supply of freshwater resources -- some 4,000 cubic km a year -- but only about five percent of its potential was being used to develop industry, tourism and hydropower.

UNEP urged African leaders to consider a range of solutions to conserve the environment from water saving irrigation systems to increasing the amount of land for agricultural use by putting government-held land into production.