German, Swiss, Canadian companies get licenses in Zimbabwe

Investors from Germany, Switzerland and Canada are among those who have received cultivation and processing licenses under Zimbabwe’s cannabis program. A total of 57 licenses were handed to both foreign and local enterprises, the Zimbabwe Investment and Development Agency (ZIDA) announced this week.

The Ministry of Lands and the Medicines Control Authority of Zimbabwe are working with ZIDA in administration of the cannabis business, and share authority for regulatory requirements.

ZIDA said some farms are already operating. The foreign entities licensed this week “own 100% of their investment,” ZIDA said in a statement issued Sunday.

The government had intended to manage Zimbabwe’s cannabis industries under state ownership when it embarked on hemp trials two years ago. It later abandoned that strategy to encourage private investment in hemp and medical marijuana, the only subsectors in which operators can open legal businesses under the country’s cannabis laws.

Read more at hemptoday.net


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