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Zimbabwe Says Local and Global Buyers May Have 100% Possession of Cannabis Farms

Zimbabwe is still making progress in turning cannabis into an monetary contributor, and now traders have even greater incentive to get involved!

The Zimbabwe Health Ministry has introduced an incentive that local and international traders looking to dive into the cannabis industry could be presented one hundred percent ownership of cannabis farms and licenses, all as a move to enhance competitiveness.

2018 saw the Zimbabwe government approve cannabis cultivation for medicinal use. Just in 2019, Zimbabwe had 37 nearby and local buyers display an interest in cannabis farming on local soil.

Investor Incentive

Health Minister, Obadiah Moyo, in a letter addressed to cannabis licensees, stated that their 100% offer comes into immediate effect, calling for buyers to begin staking their claims.

Moyo said: “Following Cabinet decision and high-level meeting, a policy change enabling investors to hold 100% ownership of Medicinal Cannabis licences was made in order to improve the competitiveness of the sector both regionally and globally."

At some point of this assembly, it become agreed that buyers ought to choose to use personal land for the cannabis project. Having one hundred% ownership of cannabis farms could be more than sufficient to secure numerous worldwide and local buyers.

“In order to regularize the policy changes a draft Investment Stabilization agreement is being reviewed by the Attorney General’s office.”. But, as you can believe, setting those modifications into action has been delayed due to efforts directed at coping with the continuing pandemic.

This is a massive change for Zimbabwe, who genuinely guarantees to carry plenty of the funding in local cannabis enterprises. Office work nevertheless needs to be finalized but an early jump-start to getting involved might not be a terribly horrific concept. As soon as you've got your license and land, you could get developing your cannabis farm and most the most you have to worry about should be renewing your license every five years.

Despite the fact that recreational cannabis use remains unlawful, this is an outstanding manner of breaking down stigmas around the plant and begin opening minds to considering making use of it. These are big moves by an African country if you bear in mind that previously, you could get jailed for as much as 12 years for unlawful cultivation of cannabis.

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