East Africa has a huge hidden asset – but risks throwing it away in the quest for economic development. This is its millions-strong herds of dryland livestock managed by pastoralists. New findings show that pastoralism has immense potential value for reducing poverty, managing the environment, promoting sustainable development and building climate resilience. In Kenya alone, the sector is worth an estimated three-quarters of a billion dollars a year. Yet pastoralism is seen by many as archaic, economically inefficient, chaotic and environmentally destructive – perceptions that are not evidence-based, yet drive much regional policy. Inadequate, inaccurate national statistics on pastoralism do little to alter this view. Persistent undervaluation has effectively trapped up to 20 million dryland pastoralists in a cycle of poverty, conflict and environmental degradation. Now, with climate change biting, the time is ripe for a conceptual framework that captures the total economic benefits of this livelihood.