With finance coming in from foreign companies like US-based King Kong Organics, Black farmers like Nyanungo, 35, who have struggled to prosper in Zimbabwe’s dysfunctional economy are looking to branch out into cannabis.
The global cannabis industry could be worth $272 billion by 2028, according to Barclays analysts, and Zimbabwe’s Finance Minister Mthuli Ncube has said Zimbabwe is targeting at least $1 billion of that more than it currently makes from tobacco. But challenges remain not least the huge cost of getting set up amid tight regulations, such as the requirement to use a greenhouse to meet the criteria for ‘organically grown’ cannabis necessary to be able to sell it to the medical market.
That, he said, brings the cost of a single hectare of cannabis up to $2.5 million. He and other producers are currently lobbying the government to relax the rules and lower the risks.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
All the best, I hope Zim becomes the industry leader for Africa and not these clowns in government here in S.A.
When planning to boost the economy through mass farming of medicinal Marijuana or cannabis,why make those linscences unaffordable to the majority of the people who must partake in the exercise
That is a perfect idea ❤️🇿🇼 Ehobis standing in their way?
Protect the indigenous Zimbabwean Farmers.
Nigeria Nigeria Latest News, Nigeria Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
SABC, Mail & Guardian launch 'The Big Africa Debate' in Cape Town - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.The South African Broadcasting Corporation (SABC), in collaboration with the Mail and Guardian, launched the inaugural 'The Big Africa Debate' on Tuesday in Cape Town. [2/2] The debate series will critically examine topical subjects from the continent’s political, economic, and social realm, focusing on Africa’s bankability and infrastructure development. Africa has potential to stand on its own, manufacture within and sell within. We need to start working and being selfish of our Precious Continent
Source: SABCNews - 🏆 37. / 51 Read more »
Africa Month Archives - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.I'm really grateful for all the efforts you have render to me with my little investment of $7000 and with joy over me after withdrawing $70,000 with your help Williamchurch07 thank you for everything you have done for me and my family Williamchurch07
Source: SABCNews - 🏆 37. / 51 Read more »
South Africa records 7 523 new COVID-19 cases - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.South Africa has recorded 7 523 new COVID-19 cases on Tuesday, bringing the total number of laboratory-confirmed infections to 3 852 148. This represents a 23% positivity rate. COVID19SA coronavirus No one is scared. No one trusts you. Delete this 'report' and retire in shame.
Source: SABCNews - 🏆 37. / 51 Read more »
South Africa still discussing $8.5bn climate fund with rich nations - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.South Africa’s government is still discussing details of a $8.5 billion fund offered by rich western nations last year to help the country shift away from coal, a senior official said on Tuesday. Cadre payday ANC members really raped and murdered Hillary ...damn💔💔
Source: SABCNews - 🏆 37. / 51 Read more »
Africa Month Archives - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.I'm really grateful for all the efforts you have render to me with my little investment of $7000 and with joy over me after withdrawing $70,000 with your help Williamchurch07 thank you for everything you have done for me and my family Williamchurch07
Source: SABCNews - 🏆 37. / 51 Read more »