Weed: Zimbabwe’s economic lifeline?

Finance minister Mthuli Ncube has backed calls for Zimbabwe to grow cannabis for export
International Cannabis Expo in Athens, Greece on January 12, 2019. The purpose of the event is to inform the visitors for all the products and the innovations that exist in the cannabis sector worldwide and the latest achievements in the medical, pharmaceutical and industrial use of cannabis. (Photo by Giorgos Georgiou/NurPhoto)

Finance minister Mthuli Ncube is supporting calls for Zimbabwe to grow cannabis for export in order to take advantage of the growing global legal marijuana market.

In April last year, Zimbabwe became the second African country after Lesotho to legalize marijuana for medical and scientific purposes.

In 2018 the Zimbabwean Government announced the statutory instrument which allows anyone who can afford a $50,000 license fee and $25,000 annual license renewal fee to grow cannabis.

The plans were shelved later in the year with the government citing the need to first carry out feasibility studies.

At a Road to Davos town hall meeting in Harare, Minister Ncube said growing cannabis as an export product is a great opportunity and the government should hasten issuing licenses

Your Friends Also Read:  Zimbabwe to Develop Mineral Reserves Before Settling Foreign Debt

Legal marijuana has started gaining traction worldwide due to very high demand among consumers and increasing legalization of recreational or medical marijuana in various countries.

Recently, Canada legalised cannabis entirely, which has now led more countries around the world to consider either recreational or medical legalisation.

Argentina and Australia are amongst some of the recent countries to legalise medical cannabis, while European nations like the Netherlands and Italy are beginning to explore their options within the medical market.

Critics in Zimbabwe fear that there will be an increase in backyard cannabis plots if allowed.


All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express written permission from News Central TV.
Your Friends Also Read:  Concessional loans over bonds for Nigeria as debt costs rise

Contact: digital@newscentral.ng

Total
0
Shares

Leave a Reply

Previous Article

Zimbabwe fuel protests turn violent

Next Article

Chez Nous

Related Posts
Powered by Live Score & Live Score App