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HomeBusinessPresident of Zimbabwe commissions U.S.$27 million medicinal cannabis farm and processing plant

President of Zimbabwe commissions U.S.$27 million medicinal cannabis farm and processing plant

The Swiss Biocieuticals medical cannabis farm value US$27 million is constructed with a state-of-the-art medicinal cannabis processing plant fitted with the primary line of medicinal cannabis oil processing aimed toward stimulating different bio-medical options and pharmaceutical merchandise for each native and worldwide markets.

According to The Herald, President Mnangagwa commissioned the farm yesterday to provide cannabis (mbanje or dagga) for medical and scientific functions.

During his speech, Mr Mnangagwa mentioned the speedy improvement of the processing plant, which provides vital worth to the crop, was an affidavit of the success of the Government’s engagement coverage and the arrogance Swiss corporations and buyers had in Zimbabwe and its financial system.

“This milestone is a testimony of the successes of my Government’s Engagement and Re-engagement Policy. It further demonstrates the confidence that Swiss companies have in our economy through their continued investment in Zimbabwe. “I extend my profound congratulations to the Swiss Biocieuticals Limited for this timely investment in the medicinal cannabis farm, processing plant and value chain, worth US$27 million,” he added.

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While praising the buyers for the speedy execution of its operations from the time it acquired its working licence, the President additionally urged different buyers with permits to rapidly operationalise their permits and licences for the profit of the financial system generally and folks specifically.

He added that the buyers ought to observe the corporate’s lead and open their enterprise to assist the mantra that ‘Zimbabwe is Open for Business and be able to generate overseas forex technology for the nation.

“I problem different gamers inside the medicinal cannabis sub-sector to speedily arrange their enterprises, specializing in worth addition and beneficiation. It is disappointing that since 2018, solely 15 out of the 57 entities issued with cannabis working licences have been operational.

President Mnangagwa later described the rising of cannabis within the nation as a milestone, including that it was per its ‘open for enterprise’ thrust. According to him, the federal government stays decided to repeatedly enhance the convenience and price of doing enterprise surroundings within the nation and the continuing financial reforms which have resulted in notable financial development.

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