Facing the grim reality of potential extinction, Africa's iconic but underexposed wild lion populations are crying out for help -- and for investors with deep, patient pockets.

The cost of conserving the African lion may exceed a staggering $3-billion a year, according to new landmark findings.

Jointly led by Oxford University and the Johannesburg-based Endangered Wildlife Trust (EWT), a Nature-published study delves into the multifaceted challenges -- social, political and ecological -- that confront free-roaming lions. Co-produced by more than 30 authors, it is the first Africa-wide attempt to understand that threat triangle, and offer an investment framework for wild lions living across the continent.

In a Daily Maverick webinar on Thursday, the EWT's co-lead author Sam Nicholson presented fresh approaches to conservation investments, but acknowledged some of the statistics were grim.

These big cats had vanished from 92% of their historic territories, representing one of the most significant range contractions of any species, said Nicholson, a senior scientist at the EWT's Carnivore Conservation Programme.

From north Africa to sub-Saharan terrains and into the Middle East, the lion's roar has fallen silent in many regions. Today, their pawprints can be traced in about 25 countries -- thus, less than 10% of their former habitat.

About 62 geographical populations were identified by the study, of which 42% had barely 50 or fewer lions. Only 11% --...