Zimbabwe: President asks Swiss Biocieuticals for 27 million medical cannabis

Zimbabwe's President Emmerson Mnangagwa has commissioned the medical cannabis company Swiss Biocieuticals to produce around US$27 million (€25.6 million) of cannabis for medical and scientific purposes, announced the Business Insider Africa. Swiss Bioceuticals has a production facility in the west of the country, at Mount Hampden, where it grows and processes medical cannabis. Since 2018, Zimbabwe has issued 57 medical cannabis production licenses, but the President regretted that only 15 units are operational.

During his speech, Mnangagwa said the rapid development of the processing plant is a testament to the success of government policy and the confidence that Swiss companies and investors have in Zimbabwe and its economy.

The President commended the policies of his government and investors for the speed in carrying out their operations since obtaining the operating license, while urging other investors with licenses to quickly operationalize their licenses, for the benefit of the economy in general. and people in particular. Mnangagwa also added that investors should follow the company's lead and open their businesses to support the mantra that 'Zimbabwe is open for business and ready to generate foreign exchange resources for the country.

“I challenge other players in the medical cannabis subsector to quickly set up their companies, focusing on adding value and benefit. It is disappointing that, as of 2018, only 15 of the 57 entities issued with cannabis operating licenses are operational,” he lamented.

President Mnangagwa later described the country's cannabis cultivation as a milestone, adding that it was consistent with its 'open for business' drive and the government remains determined to improve and facilitate these businesses in the country as economic reforms underway resulted in a remarkable growth of its economy.