Kelp Blue Plans to issue Africa’s first corporate blue bond

Kelp Blue plans to issue Africa’s first corporate blue bond next year to expand its giant kelp forests along Namibia’s coast. The De Beers-backed startup will list the first $20-million tranche of a four-year program, in which it seeks to raise as much as N$3-billion, on the country’s stock exchange in 2025, it said in response to emailed questions Wednesday.