This study examined the community-based approaches applied to attain conservation and sustainable ecosystem services. It also analysed the inter-relationships between community-based enterprises, conservation, ecosystem services and tourism. The study adopted a case study design and mixed methods approach, in which data were collected using a structured questionnaire and key informant interviews. Data were subjected to Chi-square tests to show the contribution of community-based enterprises to conservation and sustainable ecosystem services in Murchison Falls Conservation Area. Results revealed that the local communities applied various approaches to conserve the resources and sustain ecosystem services. There was a significant relationship between participation in community-based enterprises and enhanced local understanding of the value of conservation and ecosystem services. The theory of conservation of resources and the social theory of risk and uncertainty affirm that the concepts of community-based enterprises, conservation, ecosystem services and tourism are interdependent. Therefore, conservation managers need to take into account the importance of such interdependence and incorporate it in the management plans and conservation policies in order to achieve sustainable ecosystem services and tourism. Future research should generate empirical evidence based on valuation of ecosystem services and elucidate the nexus with tourism in conservation areas.