Botswana eyes cannabis legalization policy

New Botswana leader aims diversify its diamond-dependent economy by launching into the medicinal cannabis market and exploiting its abundant sunshine

President Duma Boko, Newly Botswana President said in his first state of the nation stated that his government aims to attract investors to high-potential sectors such as renewable energy, agriculture, tourism and technology as country will also begin cultivating medicinal cannabis and industrial hemp to plug into the growing international market.

“We will create jobs in this industry, as cannabis would significantly increase our GDP with cannabis and hemp-related products as well as encouraging youth entrepreneurship and innovation” said Duma Boko

However Botswana had about 2.7 million population, Botswana also won praise for a smooth change of government when the BDP was quick to concede defeat after winning just four seats in parliament on October 30, compared to 36 for Boko’s Umbrella for Democratic Change.

Furthermore Revenue in Africa’s Cannabis market is forecasted to reach US$740.90m in 2024. The revenue is anticipated to demonstrate an annual growth rate (CAGR 2024-2029) of 2.12%, leading to a market volume of US$822.80m by 2029. While the African region’s cannabis market is experiencing rapid growth as more countries move towards legalizing its cultivation and sale for medicinal and economic purposes.

Picture and origin at france24