Invest in medicinal cannabis: ZIDA

Zim Now Writer

The Zimbabwe Investment Development Agency (ZIDA), which has issued 57 cannabis cultivation licences to date is calling on investors to inject funds into medicinal cannabis in order to ensure the sector’s growth and sustainability.

The 57 licences issued so far include financiers from Germany, Switzerland, Canada and as well some local players to cultivate and process medicinal cannabis.

The projects are 100 percent owned by the respective investors.

ZIDA Chief Development Officer, Silibaziso Chizwina said investors should consider investing in medicinal cannabis as an opportunity.

“Zimbabwe boasts of fertile soils for agriculture our investors should consider doing medicinal cannabis when they go into agriculture. This is strictly medicinal cannabis and not for any other use,” she said.

Zimbabwe passed a law in 2018 allowing the growing of cannabis for medicinal use and for export purposes, supported by strict rules around licences, how it is grown and the security processes to be followed among other things. It remains illegal to use the cannabis for personal recreational purposes.