Uganda slow to get slice of lucrative cannabis market - expert
Uganda is likely to lose millions of dollars of exports in the fast-growing global cannabis industry to other African states unless the government fastens the licencing process, said an investor seeking to grow or export cannabis for medical purposes.
Several African countries are already tapping into the lucrative cannabis market, legalising and relaxing laws. They include Lesotho, Rwanda, Zimbabwe, Zambia, and Malawi. According to a report by Grand View Research, Inc., the global legal marijuana market size is expected to reach $73.6b by 2027.
The investor who preferred anonymity said says there is a huge opportunity for Uganda with the export of medicinal marijuana.
"Other African countries are moving so quickly compared to Uganda. We applied for licences but the process is so slow," he said.
However, the Health Minister Dr. Ruth Aceng said yesterday that the cabinet is yet to consider the feasibility of growing cannabis.
According to State Minister for Health, Sarah Opendi, the cabinet has set up a subcommittee headed by Prime Minister Dr. Ruhakana Rugundanto inquire into the proposal of permitting the plant.
"Marijuana growing without proper control measures can be dangerous to our youthful population. Already, it is the second-highest cause for the Butabika Hospital admissions majority of whom are youth. We can't just accept growing of marijuana," Opendi warned.
The Ministry of Health has reportedly received applications from 14 companies interested in the cultivation, extraction, and export of cannabis oil for medical purposes in line with the provisions of the Narcotic Drug and Psychotropic Substances (Control) Act 2015.
The Narcotic Drugs and Psychotropic Substances Act, 2015, allows the cultivation, production, and exportation of medical marijuana and it also mandates the minister of health to issue written consent for medical marijuana.