Page 37 - Nile Explorer Issue 12

for treating pain and inflammation
and possibly even soothing mental
illness and addictions. The global legal
cannabis market could be worth $272bn
by 2028, according to the 2018 European
Consumer Staples Report from Barclays.
South Africa, Zimbabwe and Lesotho
are the exceptions, having legalized
cultivation of medical marijuana.
Their governments are also continuing
efforts to unlock the potential of their
cannabis markets by laying the legal
and regulatory groundwork for the sale,
transport, manufacture, processing and
export of a range of marijuana products.
In Uganda, where use is punishable
with up to five years in prison, laws
regulating the industry are being drawn
up as around 20 companies wait on
the sidelines for growing licences, the
Ugandan Ministry of Health said in
April.
As the continent works to unlock its
Silhouette of a man with marijuana leaf in the evening sun potential, Keenan says the winners will
an abstention from Ukraine. The United government is the latest African country be those who consolidate market share
States and European nations were among to claim a stake in the lucrative business by setting up infrastructure at every
those who voted in favor, while the likes and generate revenue. It has landed deals stage in the supply chain – a process that
of China, Egypt, Nigeria, Pakistan and to export medical marijuana products looks well suited to established global
Russia were opposed. to Canada and Germany to the tune of players.
China’s delegate said that, despite the US$160 million in June this year. As in beer, the people who are making
United Nations move, the country would The African Cannabis Report shows that the big money aren’t those who are
strictly control cannabis “to protect from the African legal cannabis market could owning the hop farms, it’s those owning
the harm and abuse.” top US$7,1 billion by 2023 if key markets the data, the supply chain and the brand.
The African cannabis market is estimated legalize medical and recreational “Cannabis companies are already
to reach $7.1 billion by 2023. The East cannabis. Lesotho, as a regional first- reworking their sales models, gathering
African Community could become a mover, is set to play a crucial role in data, building an infrastructure to
mass producer of medical cannabis for servicing and supplying the African supply nations in a safe and reliable way.
export to fast-growing markets in the market. African businesses playing catch-up in a
West. Cannabis has been employed in global cannabis market, it makes sense
This is after Rwanda on October 12 traditional African herbal medicine and it is necessary governments in Africa
became the latest EAC partner state to since time immemorial. Today, much of develop a framework to ensure that states
approve medical cannabis production the world is playing catch-up. support encourage local producers and
for export, following closely in the The multi-billion dollar global cannabis processors for the continent to benefit
footsteps of Uganda. industry is booming as companies from the opportunities deriving from
Tanzania and Kenya, which produce cite the benefits of medical marijuana the new global developments.
the largest amounts of cannabis in the
region, are yet to legalise the commodity
and so it is exported illegally.
Rwanda government officials said the
decision to legalise the export of medical
marijuana was based on the revenue
potential for the country.
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.
It is still illegal to use marijuana
recreationally in Uganda but the More research needed on cannabis for therapeutic use

The Nile Explorer 012 | 37