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Africa’s first $173 million blue bond roll out hits a snag

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Namibia Photo by Clayton Cardinalli @ Unsplash
Photo by Clayton Cardinalli @ Unsplash
  • Kelp Blue’s $173mn blue bond listing on Namibia Stock Exchange delays due to regulatory disputes
  • The company is barred from selling its ocean-grown fertiliser Stim Blue+ locally

 

WINDHOEK, NAMIBIA – Plans by Kelp Blue to raise $173 million in what could become Africa’s first corporate blue bond may be derailed by regulatory hurdles in Namibia. The government has blocked the sale of the company’s ocean-grown biofertiliser, Stim Blue+, on the local market.

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