Kenya’s First Sovereign Blue Bond to Fund Ocean Conservation Launched

Kenya has issued Africa’s first sovereign blue bond worth Ksh10 billion to finance marine conservation and sustainable fisheries. The 10-year bond, listed on the Nairobi Securities Exchange in May 2024, will fund mangrove restoration, anti-poaching patrols, and seaweed farming in Lamu, Kilifi, and Mombasa. Investors include Britam and the National Social Security Fund, attracted by a 13% yield and ESG impact. The World Bank and UNDP provided technical support. Over 200,000 coastal livelihoods are expected to benefit. Kenya aims to protect 30% of its marine territory by 2030 under the blue economy agenda.