A company in Zimbabwe has announced that they have received approval for the country’s first medical cannabis license and will be allowed to begin cultivation after paying a $46,000 fee.
On March 7, Precision Cannabis Therapeutics Zimbabwe (Precision) obtained approval for the license which will allow them to cultivate medical cannabis on their 272-acre farm located near Harare.
Zimbabwe’s former health minister issued a notice in April of 2018 explaining that the government would begin allowing individuals and corporations to apply for medical cannabis cultivation licenses. In February, of 2019, the government announced the approval of the first 37 investors out of a pool of more than 200 foreign and domestic applicants.
“The government of Zimbabwe is open for business and welcomes investors in all sectors,” Precision Chief Operating Officer, Nathan Emery told Marijuana Business Daily. “Including licensing for the production of medical cannabis.”
Under Zimbabwean medical cannabis law, companies will be able to ship their products to certified domestic patients as well as export to other countries using the Robert Gabriel Mugabe International Airport in Harare as the port of entry and exit.
Licenses will require renewal after twelve months and cost $50,000. Under Zimbabwean cannabis law, advertising is not permitted.