July 18th, 2023
Ghana is on course to tap into the multibillion-dollar global cannabis industry after its parliament approved a law enabling licenses to cultivate cannabis for industrial and medical purposes. As reported by Bloomberg, the move opens up opportunities for the cultivation of cannabis for fiber, seed or medical use in the West African country. Once enacted, companies will be able to grow cannabis with no more than 0.3% tetrahydrocannabinol on a dry-weight basis. Ghana joins the list of countries where the production of cannabis is legal, including Uruguay, Canada, and Thailand.
Ghana’s parliament passed a law legalizing the cultivation of cannabis for industrial and health purposes, a move that will help the West African nation grab a share of the multi-billion dollar global industry.
The Narcotics Control Commission Amendment Bill was approved after its third reading, Speaker Alban Bagbin said during proceedings July 12. The passage opens the door for companies to obtain licenses to grow the plant that has no more than 0.3% tetrahydrocannabinol on a dry-weight basis, according to the provisions. Industrial-level cultivation can be for fiber, seed or medical use, it said.
Ghana joins the list of countries where production of cannabis is legal, including Uruguay, Canada and Thailand.
Focusing primarily on The New Seven Sisters - the largely state owned petroleum companies from the emerging world that have become key players in the oil & gas industry as identified by Carola Hoyos, Chief Energy Correspondent for The Financial Times - but spanning other nascent opportunities around the globe that may hold potential in the years ahead, Wildcats & Black Sheep is a place for the adventurous to contemplate & evaluate the emerging markets of tomorrow.