Zimbabwe can rake in US$19 million in tax revenues and create between 60 000 and 90 000 jobs over a five year period from the production of medical cannabis and industrial hemp, a new report says.
According to research by New Frontier Data titled Hemp Cultivation in Africa: Zimbabwe Case Study 2019 released recently, the country stands to benefit economically from regulated cultivation of cannabis.
“Although Zimbabwe has deployed a limited medical cannabis programme, the country is looking closely at how to create a more robust and expansive regulated system,” the report says.
“Following the full implementation and activation of a regulated cannabis market, both taxes and employment would increase.”
New Frontier Data estimated that combined tax revenues from domestic sales and exports over a five-year period could reach nearly $19 million while generating between 60,000 and 90,000 jobs.
“Successful deployment of a regulated system will depend upon many factors, primarily how to maximise economic…