HARARE – Zimbabwe could earn $19 million from taxes on cannabis, which the country has just started to venture into after legalising the growing of medicinal marijuana, say experts. The Zimbabwean government has been keen to follow in the footsteps of South Africa, which has legalised cannabis.
Government officials say that Zimbabwe could realise much foreign currency earnings from industrial hemp and medicinal cannabis. Ivory Medical has already been granted the green light to grow medicinal cannabis at a prison facility in Zimbabwe under a partnership involving the Ministry of Health and funded by NSK Holdings, other international investors, and Portuguese technical farming support firm Symtomax. This comes at a time that Zimbabwe is seeking to extend its earnings from the agricultural sector through expansion from tobacco and cotton.
Apart from medicinal cannabis, Zimbabwe is also weighing hemp production options, seeking to capitalise on the marijuana strain’s industrial usefulness.
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