Gibson Mhaka
PROSPECTIVE cannabis (mbanje) growers in the country are set part with over US$57,000 on an application fee for a licence to grow the plant for medical and scientific uses.
The government has so far through the country’s investment agency, Zimbabwe Investment Development Agency (Zida) issued 57 licences to foreign and local entities to grow medicinal cannabis (mbanje).
Zida is an investment agency responsible for promoting and facilitating both local and foreign investment in the country.
In an interview with B-Metro at their stand at the Zimbabwe International Trade Fair (ZITF), Zida chief investment and corporate affairs officer Tino Kambasha said through their One Stop Investment Services Centre (OSISC) they were accepting applications into this sector-based strategy, where investors were allowed to own 100 percent of their investments.
He said the move was meant to promote investments into the country as it has attracted investors from Germany, Netherlands, Canada, Switzerland and other countries.
“Zida is developing a medicinal cannabis sector-based strategy to promote investments into the country. To date, 57 foreign and local investors have been licensed.
“Zida works closely with the Ministry of Health and Child Care and the Medicines Control Authority of Zimbabwe (MCAZ) to facilitate applications for medicinal cannabis regulatory licence. According to SI62/2018, the statutory fees are: Applications fees of US$11.450 and licence fees US$45 800.
“Companies that have been licensed for cultivation and processing of medicinal cannabis own 100 percent of their investment,” said Kambasha.
Turning to how the sector would be managed against illicit activities, Kambasha said: “Zida, MCAZ and security services carry out periodic visits to all medicinal cannabis investments. Investors are expected to install smart technology so that the Minister of Health and Child Care has access to farms in real time.
“Medicines Control Authority of Zimbabwe (MACAZ) liaises with the international narcotics body to manage Zimbabwe’s quota of experts. The ministry of Lands, Agriculture, Fisheries and Rural Resettlement manages the importation of seeds and capital equipment.”
He said the country had a framework called Investment Stability Agreement (ISA), which ensures clear guarantees to facilitate investment in this sector.
The country’s premier business expo, which roars into life today under the theme, “Showcasing the New Normal for Business and Industry: Realities and Opportunities”, is being held under strict Covid-19 guidelines with persons under 18 not allowed to attend the event as part of efforts to curb the spread among children. The fair ends on Friday.
