This paper assesses how wildlife does and can contribute to rural livelihoods and livelihood diversification within villages on the northern border of Selous Game Reserve. Finding a variety of positive and negative livelihood impacts related to wildlife, it recommends approaches within community based conservation that would enhance livelihood gains. It then considers the contribution of wildlife-based enterprise to rural growth. Although this is currently minimal in the area, it is emerging as a policy goal. The paper argues that achieving wildlife-based growth is a long-term process, requiring attention to a number of policy issues going well beyond wildlife and community based conservation.