Zimbabwe is offering international cannabis investors the option of owning 100% of their operations and the right to choose where in the country they would like to invest. This is a major departure from the country’s existing foreign investment regime which requires significant local shareholding in any such venture.
The Harare government has also approved the establishment of the Green Industry Fund to promote local beneficiation, skills transfer and development of the local pharmaceutical industry.
I00% foreign ownership a ‘significant departure from previous policy’
The operational framework will be administered through the Zimbabwe Investment and Development Agency (ZIDA)’s One Stop Investment Services Centre (OSICS), according to a statement by ZIDA chief investment and corporate affairs officer
Tinotenda Kambasha on 14 May 2021, investors can have 100 percent ownership of their investments and locate their facilities anywhere in the country without a prescription.
“This is a significant departure from a previous policy which required investors to co-own investments in a joint venture with Government or Government entities and locate their investments at state prescribed locations,” he said.
“To further assure investor safety and protection, the Government has finalized and agreed a legal instrument called the Investment Stability Agreement (‘ISA’), which gives investors added security.
Read more at Cannabiz-Africa.