Why cannabis legalization in other parts of the world could be bad news for North American pot stocks

Cannabis legalization is generally good news for the industry and companies looking to expand into other parts of the world. However, that's not necessarily always the case, as it also creates opportunities for those countries to start becoming exporters of cannabis themselves, and they could end up competing head-to-head with large North American producers. Canada-based Aurora Cannabis (NYSE:ACB) prides itself on its global presence, and according to its website, it has a footprint in 25 countries and has 15 global production facilities. 


Europe could lose more ground in the medicinal cannabis industry

Europe is at risk of losing the market share to Africa in the medicinal cannabis industry, and Eco Equity have spotted the global potential.

There is a reluctance by some European policy and law makers to embrace the economic potential of medicinal cannabis and as a result they are seeing opportunities lost to more progressive markets. Europe could lose more ground following Lesotho and Zimbabwe’s decisions to allow cultivation of medicinal cannabis for mass export.


First hemp pilot in Zimbabwe: 6 varieties at a prison

The Zimbabwe Industrial Hemp Trust (ZIHT) has put in the southern African nation’s first legal hemp crop after being awarded a first license. ZIHT, based in Harare, said it planted six industrial hemp varieties in a pilot project.

“The benefits that will be derived from the production of industrial hemp are enormous and varied,” Agriculture Minister Perence Shiri said at a ceremony marking the inaugural planting. “This pilot project will provide essential knowledge . . . for the successful production of this crop,” 

The pilot test site is at a prison in Harare, chosen for its tight security, ZIHT said. 


Zimbabwe to repeal cannabis Laws; aims to export crop

Zimbabwe will repeal laws banning the cultivation of cannabis as the country seeks to boost export revenue and offset the global campaign against tobacco, a major source of foreign currency, Information Minister Monica Mutsvangwa said.

The emphasis will be on industrial hemp, which is also illegal, and medicinal cannabis that “will take a long time to set up structures,” Mutsvangwa told reporters in capital, Harare. “The crop can be a good substitute to the leading export crop, tobacco, which is at risk of being banned globally.”

The southern African nation has also secured 400 megawatts of power from Eskom Holdings SOC Ltd. and will make weekly payments to settle outstanding debt with South Africa’s state-owned utility, she said.


World’s top cannabis business leaders to gather in South Africa

NAIROBI, KENYA: As the global medical cannabis market continues to expand and increasing numbers of countries around the globe legalise its use, the renowned CannaTech Summit will take place for the first time on the African Continent in Cape Town, South Africa, November 24 – 26.

With estimates that the cannabis and associated products market could be worth R27 billion by 2023, this immense potential has led to a boom in regional cannabis interest and investment.


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?


The African cannabis market could reach $7.1B by 2023

In the global cannabis landscape, Africa is an overlooked market. This is due to a number of factors, such as the illegality of the plant across the continent and the poor economic conditions that many African countries face.

Africa has the potential to become an enormous cannabis market due to the large population and favorable climate that makes growing weed easier than in neighboring Europe. A new report by Prohibition Partners suggests that by 2023, the African cannabis market could reach $7.1 billion.


Emerging markets - African countries exporting marijuana

African governments are considering ways of tapping into the lucrative marijuana market. According to a UN survey, more than 10 000 tons of cannabis are produced on the continent each year, which could be worth billions of dollars in a rapidly expanding global market for legal cannabis.

Although African governments have not yet followed the trend of marijuana legalisation seen in Europe and the Americas, legitimate marijuana production for medicinal and industrial use is taking off. For instance, Lesotho is the continent's first country to offer legal licences to grow marijuana, signalling a shift towards more liberal policies.


Hoban Law to take the lead on hemp policy & regulation in Africa?

New Frontier Data say that they  recently presented preliminary findings to the Zimbabwean government while working in collaboration with other regulators in the region to finalize what will be the first “rigorous assessments of both risks and opportunities of hemp cultivation in Africa.”

New Frontier data’s press release goes on to say

The ICA’s invitation-only event brings together industry leaders across the Nine Foundational Pillars of new cannabis markets, to share lessons learned and best practices with regional government officials and stakeholders. 


Zimbabwe authorizes licence to first medical cannabis company, but drug remains controversial

Zimbabwe recently authorized licenses to grow cannabis for medical or research purposes. Previously, it was illegal to possess, consume or cultivate the plant, with violations leading to harsh penalties of up to 12 years in prison. Now, after many delays in the implementation of the regulations, licenced companies and individuals can grow the plant.

Earlier this month, the country approved the licence for its first medical cannabis company, Precision Cannabis Therapeutics Zimbabwe—located roughly 45 minutes outside Harare—at the cost of USD$46,000 (approx CAD $61,700).


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