Kelp Blue chases N$1.5 bn for Lüderitz

Kelp Blue aims to launch a blue bond programme towards the end of 2024, with the goal of raising US$20 million annually for four years. At the current exchange rate, the targeted US$80 million equates to more than N$1.5 million.The money will be used to plant up to 1 000 hectares of kelp forests offshore Lüderitz, where Kelp Blue’s primary operations are based. The bonds – one of the first globally listed corporate blue bonds – will be launched on the Namibian Stock Exchange (NSX), representing a new channel for capital to flow to similar projects worldwide.Kelp Blue’s landmark initiative was announced at the Namibia Pavilion at COP28 in Dubai in the United Arab Emirates (UAE).The company – founded in 2020 as a frontrunner of sustainable innovation, specialising in the cultivation of giant kelp – also received the prestigious Zayed Sustainability Prize in the Climate Action category at COP28. Recognition was given for the large-scale positive climate impact growing giant kelp forests on the planet, by enhancing ocean health and sequestering carbon.Investment infrastructureKelp Blue’s bond programme highlights the strength of the investment infrastructure within Namibia and places the country at the forefront of financial innovations in forward-thinking industries, the company said in a statement. The programme will contain clear metrics that highlight the positive environmental impacts, including carbon sequestration, biodiversity monitoring, job creation and regional economic diversification stemming from the planting of the aforementioned kelp forests. A total of 2.5% of the blue bond proceeds will be committed annually to enhancing marine wildlife conservation and protection, supporting the effective implementation of the Namibian Islands Marine Protected Area (NIMPA) management plan.A steering committee will be established consisting of reputable non-governmental organisations specialising in environmental and social impact, marine protected areas, marine conservation and regenerative practices, Kelp Blue said. This committee will decide how the 2.5% committed to effective NIMPA monitoring and oceans education is to be deployed, and how the spend is to be reported.The majority will go to direct on-the ground projects such as environmental DNA, drone and satellite monitoring of the marine protected area, as well as school-level oceans education programmes in the coastal communities adjacent to the area.

Kelp Blue chases N$1.5 bn for Lüderitz

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Namibian Sun 2025-04-04

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Kelp Blue chases N$1.5 bn for Lüderitz

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Namibian Sun 2025-04-04

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