This is a widespread species with numerous junior synonyms, and molecular research is required to understand the systematics of this possible species complex (Stanley et al. 2011). A morphologically similar East African form, Cordylus beraduccii, was described based on material formerly included within C. tropidosternum (Broadley and Branch 2002), and has since been found to be genetically distinct (Stanley et al. 2011). These latter authors also elevated the southern subspecies, C. t. jonesii, to full species status. It may yet prove to be the case, as first suggested by Loveridge (1944), that Tanzanian C. tropidosternum represent a different species from the nominate form, but research is needed to determine this (Stanley et al. 2011). C. angolensis, a poorly-described species whose sole known specimen was destroyed and which was for a long time considered a junior synonym of C. tropidosternum, is here treated as a valid species following Branch et al. (2005) and subsequent workers, however Branch et al. (2005) note that its status remains problematic.

This species is widespread and common and therefore considered Least Concern.

This species is widespread across Tanzania, Mozambique, Malawi, northeast Zimbabwe, southern Democratic Republic of the Congo, and southern Kenya.

Although this species may not be severely affected by habitat loss, high levels of removals for the pet trade may be detrimental to wild populations.

This species is found on trees, woodland, and mesic savanna (Spawls et al. 2018).

This species is widely available in the pet trade, but the effects on the wild populations are unknown (S. Parusnath pers. comm. 2019). There appears to be some general habitat loss also underway for this species.

The species is listed in CITES Appendix II with over 38 000 individuals recorded as exported in the last decade. This species is traded under the name of 'dwarf sungazer' along with Cordylus jonesii. Specimens offered for trade as C. tropidosternum may likely be C. jonesii (S. Parusnath pers. comm. 2019). 

This widespread lizard presumably occurs in protected areas within its range.