Browsing: Medical cannabis

Medical marijuana may very well be the agri-business that Africa needs to get its economies high in the global multi-billion agro-industry.

Already, Africa’s marijuana production is on the rise.

According to the Oklahoma Medical Marijuana Authority (OMMA) medical marijuana dispensary sales totalled US$11.5 million in just under one month. Other than the sales, OMMA also says in that same time, between January and February of 2019, it also raised more than US$3 million in taxes alone.

The following month, approximately US$873,361 came from the 7% gross receipts tax and US$1.3 from the 4.5% state sales tax.

Since OMMA began accepting applications for medical marijuana licensing, the state says it has pocketed well over US$7.1 million inpatient license fees and more than US$11 million in revenue generated in commercial license fees.

That is just one state. Consider how much the entire US has made from medical marijuana as a country. Worldwide, …

A way to improve opportunities favoured by small and large scale cultivators would be freeing up the African markets for local consumption. Many Southern African countries legalize medical use, with none entirely permitting recreational use. Therefore, the legal environment in Africa remains one of the most restrictive in the world.

South Africa, however, may be an indication of things to come. Gabriel Theron, CEO of South African cultivator Cilo Cybin and founder of Africa’s first cannabis-focused particular purpose acquisition company, which is due to list on the JSE, says that there is a growing realization that an export-only model is doomed to failure. According to him, an export-only model is not sustainable.

There is a need to de-schedule the THC and CBD levels to open up the recreational market and thus the medicinal market. That also has implications for foreign investment. In the case of operations in Australia, Europe, and …