The Chamber of Cannabis Industry has advised the government to invest in the cannabis industry through policy interventions aimed at diversifying Ghana’s cash crops.
This the Camber argued will help the country generate revenue to support the economy.
Mark Darko, Chief Executive Officer, Chamber of Cannabis Industry, says Ghana had one of the best climates in the world to cultivate cannabis.
He claimed that the country had the potential to generate about $1 billion from the $50 billion global cannabis market.
He made the remarks at the launch of the Chamber of Cannabis Training Centre and Sky Bridge Pharmaceuticals in Accra.
He indicated that authorities must leverage its cannabis resource for medicinal and industrial purposes following the passage of the Narcotics Control Commission Bill, 2023.
The bill grants permission for the cultivation of cannabis for industrial purposes.
He maintained that the medicinal cannabis sector has the potential of pushing growth due to its usefulness in chronic pain management and epilepsy treatments.
“One can make not less than $10,000 from just one hectare of cannabis. This is a $50bn industry. If Ghana is able to make at least $1 billion annually from cannabis, you can imagine what that can do for our country. Cannabis will reset Ghana’s economy.”
“The United States recorded over $11 billion in medicinal cannabis revenue in 2021, and that’s set to more than double by 2025. Europe, projected to be the largest medicinal cannabis market in the world, is expected to reach $45 billion within the next five years,” he said.
He explained that the Chamber’s Training Centre, with support from Sky Bridge Pharmaceuticals, would equip farmers and processors with the tools and techniques to cultivate and process cannabis and hemp sustainably.
According to him, the Chamber was also established to foster research and innovation to develop products that cater to global markets as well as promote ethical practices.
On his part, the Group CEO, Sky Bridge Group,
Samuel Twumasi stated that the company accepted to invest in the cannabis sector because of the potential to produce world-class cannabis-based medicines that met the highest global standards.
He admonished the government to expedite the passage of fees and charges for the acquisition of licenses for the cultivation of cannabis to facilitate investments in the sector.
By: Rainbowradioonline.com/Ghana
