Zimbabwe

Wed
07
Aug

Zimbabwe to repeal cannabis Laws; aims to export crop

Zimbabwe will repeal laws banning the cultivation of cannabis as the country seeks to boost export revenue and offset the global campaign against tobacco, a major source of foreign currency, Information Minister Monica Mutsvangwa said.

The emphasis will be on industrial hemp, which is also illegal, and medicinal cannabis that “will take a long time to set up structures,” Mutsvangwa told reporters in capital, Harare. “The crop can be a good substitute to the leading export crop, tobacco, which is at risk of being banned globally.”

The southern African nation has also secured 400 megawatts of power from Eskom Holdings SOC Ltd. and will make weekly payments to settle outstanding debt with South Africa’s state-owned utility, she said.

Fri
28
Jun

World’s top cannabis business leaders to gather in South Africa

NAIROBI, KENYA: As the global medical cannabis market continues to expand and increasing numbers of countries around the globe legalise its use, the renowned CannaTech Summit will take place for the first time on the African Continent in Cape Town, South Africa, November 24 – 26.

With estimates that the cannabis and associated products market could be worth R27 billion by 2023, this immense potential has led to a boom in regional cannabis interest and investment.

Thu
23
May

The African cannabis market is poised to reach $7.1 billion within four years

Cannabis is distancing itself from its former days of prohibition and people are enjoying legalization – both medically and recreationally throughout North America and Europe. But what’s been going on in Africa?

Thu
09
May

The African cannabis market could reach $7.1B by 2023

In the global cannabis landscape, Africa is an overlooked market. This is due to a number of factors, such as the illegality of the plant across the continent and the poor economic conditions that many African countries face.

Africa has the potential to become an enormous cannabis market due to the large population and favorable climate that makes growing weed easier than in neighboring Europe. A new report by Prohibition Partners suggests that by 2023, the African cannabis market could reach $7.1 billion.

Wed
01
May

Emerging markets - African countries exporting marijuana

African governments are considering ways of tapping into the lucrative marijuana market. According to a UN survey, more than 10 000 tons of cannabis are produced on the continent each year, which could be worth billions of dollars in a rapidly expanding global market for legal cannabis.

Although African governments have not yet followed the trend of marijuana legalisation seen in Europe and the Americas, legitimate marijuana production for medicinal and industrial use is taking off. For instance, Lesotho is the continent's first country to offer legal licences to grow marijuana, signalling a shift towards more liberal policies.

Thu
28
Mar

Hoban Law to take the lead on hemp policy & regulation in Africa?

New Frontier Data say that they  recently presented preliminary findings to the Zimbabwean government while working in collaboration with other regulators in the region to finalize what will be the first “rigorous assessments of both risks and opportunities of hemp cultivation in Africa.”

New Frontier data’s press release goes on to say

The ICA’s invitation-only event brings together industry leaders across the Nine Foundational Pillars of new cannabis markets, to share lessons learned and best practices with regional government officials and stakeholders. 

Tue
26
Mar

Zimbabwe authorizes licence to first medical cannabis company, but drug remains controversial

Zimbabwe recently authorized licenses to grow cannabis for medical or research purposes. Previously, it was illegal to possess, consume or cultivate the plant, with violations leading to harsh penalties of up to 12 years in prison. Now, after many delays in the implementation of the regulations, licenced companies and individuals can grow the plant.

Earlier this month, the country approved the licence for its first medical cannabis company, Precision Cannabis Therapeutics Zimbabwe—located roughly 45 minutes outside Harare—at the cost of USD$46,000 (approx CAD $61,700).

Fri
22
Mar

Africa’s legal cannabis market could be worth over $US 7.1 billion annually by 2023 – Report

Africa’s legal cannabis industry could be worth more than $US 7.1 billion annually by 2023 if legislation is introduced in a number of the continent’s major markets, European-based market intelligence and strategic consultancy firm Prohibition Partners has found in its latest report, released today.

The African Cannabis Report™, published today, finds that countries across the continent could generate significant economic benefits through the development of legal cannabis markets.

Mon
18
Mar

Zimbabwe authorizes license for first medical marijuana company

The African nation of Zimbabwe issued the country’s first license to a medical marijuana company earlier this month, according to a report from Marijuana Business Daily. In a letter obtained by the publication that is dated March 7,  Zimbabwe’s Ministry of Health and Child Care informed Precision Cannabis Therapeutics Zimbabwe that the company’s application to produce medical cannabis had been approved. The letter notes that the authorization was being issued pending payment of a license fee of US$46,000.

Thu
13
Sep

Zimbabwe’s medical marijuana future uncertain

The country is the second in Africa to permit cannabis cultivation, but months after approval there’s been little uptake by farmers and no scientific proposals.

In May, the government of Zimbabwe announced a law that allows farmers to grow and sell cannabis for medical and research purposes. The country becomes only the second in Africa to permit medical marijuana, Lesotho being the first to do so in 2017. 

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