Kelp Blue Pioneers Africa’s First Blue Bonds

By: Justicia Shipena

Namibian kelp farmers, Kelp Blue, are set to become the first issuer of blue bonds in Namibia and Africa.
The groundbreaking initiative was unveiled at the Namibian pavilion during COP28, marking a significant step towards financing investments in healthy oceans and blue economies aligned with Sustainable Development Goal 14 (SDG 14).
Kelp Blue aims to raise N$1.4 billion (US$80 million) through Namibia’s inaugural corporate Blue Bonds.
The funds generated will be dedicated to cultivating up to 1,000 hectares of kelp forest off the Southern Namibian coastline.
The company plans to gauge interest for the Blue Bonds placement in the first quarter of the upcoming year, with the intention to initiate the first tranche of four annual US$20 million (N$372 million) installments by the fourth quarter of 2024.