Zimbabwe inaugurates a €25 million medical cannabis crop

The President of Zimbabwe inaugurated a site for the cultivation and processing of medical marijuana worth €25 million.

Business Insider reports that President Emmerson Mnangagwa «officially opened the medical cannabis farm and processing plant in Mount Hampden, established by Swiss Bioceuticals Limited in Zimbabwe’s Western Province… to produce cannabis (mbanje or dagga) for medical and scientific purposes,» stating in a speech that «the rapid development of the processing facility, which adds significant value to the crop, demonstrated the success of the government’s engagement policy and the confidence of Swiss companies and investors in Zimbabwe and its economy.».

President Emmerson Mnangagwa inaugurates a cannabis cultivation site

«I extend my heartfelt congratulations to Swiss Bioceuticals Limited »for this timely investment in the medical cannabis farm, processing plant, and value chain, worth $27 million,” Mr. Mnangagwa said in a speech on Wednesday, as quoted by Business Insider.

Business Insider reported that the president «added that investors should follow the company’s example and open their own businesses to support the mantra «Zimbabwe is open for business» and be prepared to generate foreign exchange for the country.».

A way to revive the country

The opening of this production facility comes nearly three years after the The country has repealed its laws banning the cultivation of cannabis, as he was seeking to produce a new crop for export. A year earlier, in 2018, the The country has legalized medical cannabis.

The lifting of the ban is part of a concerted effort by Zimbabwe to shift away from its main export, tobacco, of which it is the leading producer on the continent.

Exports of tobacco, which brings in far less money As a result, many players in the country’s agricultural sector have turned to cannabis production.