Zambia Approves Medical Cannabis Production And Exports
The East African nation of Zambia has officially approved legal medical cannabis cultivation and exports. Cannabis reform is sweeping across the African continent as a growing number of countries are reforming their outdated cannabis laws to allow cannabis companies to operate.
It is estimated that Africa’s legal cannabis industry could be worth more than $7.1 billion (USD) annually by 2023 if the continent’s major markets see their laws reformed in a way that allows the emerging cannabis industry to thrive. Zambia’s recent policy change will help boost the chances of that projection becoming a reality.
Zambia’s cannabis industry model will be limited to start, however, as detailed by Zambia Reports:
The Zambian government has finally approved a proposal to legalize the production of Marijuana.
The production of Marijuana in Zambia will, however, be restricted to exports and for medical purposes only.
Companies wishing to trade in Marijuana in Zambia will be charged US$250,000 annual license fees.
The high barrier to entry for people to get in on the action in Zambia is unfortunate, as it will prevent a vast majority of Zambia’s citizens from being able to launch cannabis companies. It is also unfortunate that the industry will be limited to exports and medical purposes only.
With that being said, this is progress, and hopefully this move is treated as a step in the right direction rather than a permanent industry model. Even though the model is limited, it should create much-needed jobs in Zambia and boost local economies.