Zimbabwe's cannabis sector appears to be fast increasing. Through Zida, a one-stop government shop for local and global investors, the government established a Green Business Fund in 2021 to entice investors to the local cannabis industry.
Zimbabwe's president, Emmerson Mnangagwa, announced the establishment of a $27 million medicinal cannabis farm and processing business in 2022.
Swiss Bioceuticals Limited constructed the factory at Mount Hampden, some seven miles from the capital. President Mnangagwa has commissioned Swiss Biocieuticals Limited's medical cannabis cultivation and processing facilities at Mount Hampden in Zimbabwe's West Province.
Swiss Biocieuticals' medical cannabis farm, worth US$27 million, is equipped with a cutting-edge medicinal cannabis processing plant and the first line of medicinal cannabis oil processing to stimulate other bio-medical solutions and pharmaceutical products for both local and international markets.
According to Business Insider Africa, the processing plant is equipped to create therapeutic cannabis oil and other pharmaceutical items for local and international markets. Local cannabis businesses can now sell their products as long as they follow restrictions. The Zimbabwe Medicines Control Authority encouraged all licensed cannabis and hemp growers and retail pharmacists to apply for permission to sell their goods on Tuesday.
The authority also announces the application requirements, stating that applicants must submit samples of their products as well as "certificates of analysis from an accredited laboratory specifying the quantities of the active moieties of cannabidiols and any traces of tetrahydrocannabinol as part of the information in the dossier."
"Any Hemp-based CBD product applications that do not match the aforementioned standards may be denied distribution and confiscated," the Medicines Control Authority noted.
"The southern African country is looking to increase revenue from cannabis as it transitions away from tobacco, its major cash crop." According to Bloomberg, "the approval will help drive a sector that the country's Treasury says has the potential to reach $1.25 billion per year."
Featured Image: DepositPhotos @EdZbarzhyvetsky
