Cannabis in Africa : Higher growth path or pipe dream?

• Main Author: Gopaldas, Ronak
• Other Authors: Nanyang Business School
• Format: Newsletter
• Language: English
• Published: 2020
• Subjects: Business; Business::General; Africa; Cannabis
• Online Access: https://hdl.handle.net/10356/142639
• Institution: Nanyang Technological University

Cannabis, long demonized as a gateway to the use of more potent drugs, is gaining traction in the medical community as a beneficial treatment for mental and physical health issues. As the list of benefits ascribed to cannabis use in its various forms grows, the economic and fiscal merits of commercial production gradually take hold in many countries, and now emerge in Africa. Regulators, policymakers, entrepreneurs and conglomerates seek to position themselves to take advantage of the surging global interest in the plant. Both regulations and perceptions of the plant will need to change to realize its economic potential. As with the development of any new industry, the political, regulatory and economic terrain needs to be mapped. Gauging the sector’s future viability requires answering several key questions: 1. What is the current state of the African cannabis market? 2. What does Africa offer that few other agricultural regions can provide? 3. Which countries are best poised to take advantage of the surge in interest in the cannabis economy? 4. What needs to change for commercial cannabis production to become a meaningful economic contributor in Africa? 5. What can the experiences of other countries embarking on the cannabis journey teach Africa about how to chart the path forward?