Kelp Blue, a startup supported by De Beers, plans to issue Africa's first corporate blue bond in order to expand its kelp forests along the Namibian coast. The company intends to launch an initial $20 million tranche as part of a larger four-year program, with a goal of raising up to 3 billion Namibian dollars (approximately $173 million).
The bond will be listed on Namibia's stock exchange in 2025, representing a significant milestone in sustainable financing for marine conservation. This initiative highlights the increasing interest in blue finance, which focuses on projects that contribute to the health and biodiversity of the ocean.