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

• 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.