Context Food security, integral to the UN sustainable development goals, has become a global priority. Only a handful of cultivated species meet 80% of dietary intake, and hence, in future, it may be inadequate to depend only on these crops. Aims Wild germplasm is endowed with desirable traits of relevance to food, health and climate resilience and, hence, there is a need to intensify efforts for bringing wild edible plants into mainstream agriculture. Wild banana (Ensete spp.) is a staple food source besides having bioactive compounds, nutraceuticals and cosmeceuticals. Methods Ensete species are cultivated in Asian and African countries, and its cultivation through superior clones is done through conventional methods and plant tissue culture techniques. Despite information on the ecological, social and economic features of Ensete spp., there has been no systematic assessment of their nutritional and other agronomic traits. Key results Herein, we provide a comprehensive account of Ensete sp. conservation, domestication, nutritional profile and medicinal importance as well as documenting the biotechnological approaches and identifying research gaps and prospects of these underutilised species. Conclusion and implications We believe this review could form a baseline resource to aid decision-making for improvement of the crop towards sustainable use and domestication of the species in the global context.