Africa

Mon
24
Jun

Halo Labs to acquire Africa-based Bophelo Bioscience in $18.4m deal

US-based Halo Labs Inc. has entered into a non-binding letter of intent (LOI) for the proposed acquisition of Bophelo Bioscience & Wellness (Pty) Ltd.

The transaction is expected to strengthen Halo’s position in Lesotho, Africa, a country quickly becoming the continent’s export gateway to the global cannabis market. Lesotho is the first African country to grant medical marijuana licenses for cultivation and patient use and is making strides toward becoming the worldwide export hub for cannabis.

Thu
13
Jun

True Leaf announces first distribution agreement in Asia with Eagle Vet

True Leaf Brands Inc. (“True Leaf” or the “Company”) (CSE: MJ) (OTCQX: TRLFF) (FSE: TLA), a leading global cannabis and hemp wellness brand for pets, announced that on May 23, 2019, it signed a non-binding Memorandum of Understanding (“MOU”) with international pet care distributor Eagle Vet, launching True Leaf’s expansion into the Asian market.

Tue
11
Jun

Tokyo Olympics next year: Faster, stronger, but not higher

The famous Olympic motto is Faster, Higher, Stronger. Next year in Tokyo, it could be shortened to only "Faster and Stronger." Higher is out.

That was part of a warning on Tuesday from Toshiro Muto, the chief executive of the Tokyo Olympics.

Cannabis has been legalized in some parts of the world, but Muto reminded potential visitors to the games that the substance is against the law in Japan.

Muto said at a news conference that at least one member of the executive board brought up the issue at a meeting.

Tue
11
Jun

Uganda poised to become Africa’s next cannabis powerhouse

Uganda, fertile and sun-drenched, is harboring dreams of becoming the next cannabis hotshot of the African continent. Foreign capital has been flowing in to launch the new industry. So, much hangs in the balance as the country’s cabinet weighs changes to the criminal code allowing cultivation to proceed.

There appears to be a tension between the lure of a lucrative new agro-export sector and a conservative political culture in a traditionally authoritarian country.

Thu
06
Jun

Ethiopian hemp industry could be worth $10 billion

Cannabis and hemp in Africa are big business, and that could be great news for a continent that struggles to feed its people.

Mon
03
Jun

You’ll never guess which country smokes the most weed

If you had to guess which country consumed the most cannabis in the world, you’d surely start with places where the plant is at least legalized. Uruguay, for instance, legalized cannabis in 2013. Another choice might be Canada, which passed adult-use marijuana legislation in 2018. Heck, you could even pick countries where the drug is partially legalized, like the United States or Netherlands.

Fri
31
May

These are the top 10 cannabis-consuming countries in Africa

Congratulations, or canna-gratulations, to Nigeria.

The West African country has the distinction of being home to the largest number of cannabis consumers on the African continent by a huge margin of over 20 million users, according to New Frontier Data’s recent report titled, Global Cannabis Report: 2019 Industry Outlook.

Thu
23
May

The African cannabis market is poised to reach $7.1 billion within four years

Cannabis is distancing itself from its former days of prohibition and people are enjoying legalization – both medically and recreationally throughout North America and Europe. But what’s been going on in Africa?

Mon
20
May

Seven reasons why policymakers should be cautious when legalizing marijuana in Africa

Legal Marijuana is lucrative enough to write off Africa's debt in a decade, however, it will come with a cost. Here's why.

Capitalists are quick to point out the economic benefits of a viable business, its contribution to the GDP in excess of billions of dollars on the continent. Legal Marijuana in Africa shouldn't however be all about its attendant economic gain, but its impact on the social well being of the people. Here are seven reasons Cannabis Market is undesirable in Africa:

1. Outlawing sales despite abuse 

By the time Cannabis dealers get unhindered access to the international market and realize its lucrative nature, it will be impossible to outlaw its sales despite the abuse.

Tue
14
May

Nations going to pot: Where cannabis is legal around the world, and where it isn’t

Check out the interactive map here.

Canada, the second nation to legalize recreational marijuana after Uruguay, appears to have had a global impact as more nations come on board.

New Zealand plans a referendum on legalization during next year’s election and Mexico also appears headed that way.

Luxembourg is poised to become the first European country to legalize recreational marijuana, and South Africa is moving in that direction. Israel’s Parliament approved a law allowing exports of medical marijuana. Thailand legalized medicinal use of marijuana, and other Southeastern Asian countries may follow South Korea’s lead in legalizing cannabidiol, or CBD

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