Uganda to become one of the world’s best Marijuana producer

Although the government has not yet licensed many companies to grow and export marijuana or cannabis-based medical products, those that have been approved have pledged to make Uganda the world’s largest marijuana and cannabis producer.

According to one of the local media, New Vision, Uganda transported 4000kg of medical marijuana to Germany last week, making it the fourth overseas delivery since the government permitted select foreign businesses for the sector.

Uganda has the capacity to produce approximately 30 tonnes of Medical Marijuana yearly, according to Benjamin Cadet, one of the directors of Industrial Hemp Uganda Limited, the firm that was granted a license to grow and process Medical Cannabis.

Medical Marijuana, often known as Cannabis, is a popular drug that is said to be useful in treating a variety of illnesses, including cancer.
Over Shs18 million is spent on a kilogramme.

Cadet claims that because the items are in high demand on both local and international markets, they are in the process of selling them in Uganda in order to establish Uganda as a global medical cannabis tourist hub.

Currently, the company has developed over ten medical cannabis medicines that have been submitted for clearance to the Uganda National Drug Authority.

“We want to treat Ugandan patients first before exporting to other countries,” says the company. “However, we have yet to hear back from the National Drug Authority.” We appreciate President Trump’s support and for creating an environment that encourages medical cannabis innovation. Because this business is beneficial to Uganda’s economy and will help Uganda become one of the world’s leading producers of cannabis products.”

The company transported 600kg of medical marijuana to Israel in March of last year, and 1.7 tonnes in January of this year.

Despite the fact that the Narcotics and Psychotropic Substances Act of 2015 allows for the cultivation, production, and exportation of medical marijuana, as well as giving the Minister of Health the authority to grant consent to any company to begin such production, only one company has received consent.

This is because the government has made it difficult for individuals and businesses to grow or export medical marijuana.

One of the stringent conditions is that anyone starting such a business must have a minimum capital of Shs18.3 billion and a bank guarantee of Shs4 billion.

In the case of investors, tax clearance, personnel lists, and job descriptions must be presented.

Due of the stringent restrictions, the government has only licensed one company to produce Medical Marijuana, despite the fact that over 20 companies applied for this lucrative market.

The licensed company (Industrial Hemp Uganda Limited) is collaborating with one of Israel’s largest cannabis companies listed on the Tele Vivi exchange (Pharma Limited).

Despite the fact that the consented company has so far done four deals worth millions of dollars with foreign countries, the public still requires a certificate of approval for Medical Cannabis from the National Drug Authority if it is to service the local market.