Categories: Zim Latest

Zimbabwe allows 100% ownership of medical cannabis investments

The government has allowed for 100% ownership of medicinal cannabis investments.

The government has also allowed for cannabis farming on private land and have put in an added layer of protection called the Investment Stability Agreement.

The southern African country became one of the first in Africa to legalise the production of medicinal cannabis in 2018, hoping for a fresh income stream of badly needed export dollars, and has issued 57 licences.

Meanwhile, the global cannabis industry could be worth $272 billion by 2028, according to Barclays analysts, and Zimbabwe’s Finance Minister Mthuli Ncube has said the country wants at least $1 billion of that — more than it currently makes from its top agricultural export tobacco.

Zwnews

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