Zimbabwe Scraps State Cannabis Ownership Rules to
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Posted On: 05/12/2021 5:18:33 PM
Zimbabwe Scraps State Cannabis Ownership Rules to Lure Investors
Zimbabwe abolished a rule which requires co-ownership between government and private investors in the cultivation of cannabis for medicinal use, seeking to encourage what the country sees becoming the biggest cash crop.
“Investors can have 100% ownership of their investments and locate their facilities anywhere in the country without prescription,” Douglas Munatsi, chief executive officer of the Zimbabwe Investment & Development Agency, said Wednesday in an emailed statement.
The decision is in line “with government’s investor-friendly stance to attract capital and to be competitive,” Munatsi went on to say by phone.
Zimbabwe sees export earnings from cannabis outstripping those of tobacco this year with sales expected to reach $1.25 billion, according to a Treasury forecast given in November. That may help boost an economy that’s been desperately stretched for some time.
READ: Zimbabwe $1.25 Billion Plan Sees Cannabis
https://www.bloomberg.com/news/articles/2021-...-investors
TOODLES
Zimbabwe abolished a rule which requires co-ownership between government and private investors in the cultivation of cannabis for medicinal use, seeking to encourage what the country sees becoming the biggest cash crop.
“Investors can have 100% ownership of their investments and locate their facilities anywhere in the country without prescription,” Douglas Munatsi, chief executive officer of the Zimbabwe Investment & Development Agency, said Wednesday in an emailed statement.
The decision is in line “with government’s investor-friendly stance to attract capital and to be competitive,” Munatsi went on to say by phone.
Zimbabwe sees export earnings from cannabis outstripping those of tobacco this year with sales expected to reach $1.25 billion, according to a Treasury forecast given in November. That may help boost an economy that’s been desperately stretched for some time.
READ: Zimbabwe $1.25 Billion Plan Sees Cannabis
https://www.bloomberg.com/news/articles/2021-...-investors
TOODLES
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