Cannabis sales have been identified by a Ghanaian administrator as an odd but potentially lucrative addition to the nation’s economy.
According to Mark Darko, CEO of the Chamber of Cannabis Industry, the West African nation might earn up to $1 billion from the sale of cannabis, a product that is predicted to bring in around $21.04 billion worldwide in 2025.
During the launch of the Chamber of Cannabis Training Center in Accra, which will teach farmers how to grow and process cannabis, Mark Darko explained that the government’s assistance is necessary to achieve $1 billion in cannabis revenue.
“One can make not less than $10,000 from just one hectare of cannabis. This is a $50 billion industry. If Ghana is able to make at least $1 billion annually from cannabis.”, according to local media, Darko stated that cannabis would “reset Ghana’s economy.”
The CEO declared that Ghana must make advantage of its cannabis resource for both industrial and therapeutic purposes after the Narcotics Control Commission Bill, 2023, which permits the cultivation of cannabis for industrial purposes, was approved.
“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,” he reiterated.
“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 added.
With help from Sky Bridge Pharmaceuticals, the Chamber’s Training Center will give farmers and processors the resources and know-how to cultivate and handle cannabis and hemp in a sustainable manner, Darko said.
In order to produce items that cater to global markets, he added, the center will promote moral behavior, research, and innovation.
The goal of Sky Bridge Group’s involvement in the cannabis sector, according to Group CEO Samuel Twumasi, is to produce cannabis-based drugs that are unmatched and compliant with the strictest laws in the world.
He asked the government to enact taxes and charges for cannabis cultivation permits as soon as feasible in order to stimulate investment in the sector.
Source: newsthemegh.com