Cannabis Trade Turns Out Lucrative. – Licensed Uganda Company.
Written by Conrad Comrade on October 28, 2021
Industrial Hemp Uganda Ltd has confirmed that it exported 400kgs of medical marijuana were to Germany on 16th October from Uganda.
According to www.gmg-compliance.org, a website run by a German-based training institution on good manufacturing practices for health product makers, a kilogram of medical cannabis costs approximately USH18 million.
The same source claims that Medical Marijuana has been proven effective in treating a wide range of diseases, including cancer hence making it highly sought after, explaining the exorbitant price label.
Benjamin Cadet, one of the directors on the board of Industrial Hemp Uganda Ltd, noted that their major aim is to increase their capacity to produce and export more medical marijuana.
“We have an aim of starting to sell some of our finest marijuana products on the Ugandan market with a main goal of making the company a global tourism hub for Cannabis”. Mr Benjamin said.
Emmanuel Ainebyona, the spokesperson of the Ministry of Health said that frequent discussion is taking place on whether to license more companies to grow and export medical marijuana in Uganda. As per now only one company bears that license hence establishing a monopoly.
This is not the first time Uganda is exporting the product. Over the past couple of years, Uganda has legally exported Cannabis three times and it has proven to be highly lucrative endeavor.
In 2015, under the Narcotics and Psychotropic substances act the government of Uganda legalised the production and exportation of medical marijuana with in the borders. The Ministry of Health was tasked with the duty of issuing of written consent for the use and or development of marijuana for both consumption and exportation.
For now, only one company has managed to attain a license in this sector. Industrial Hemp Uganda Ltd is a company affiliated with Pharma Ltd, one of the biggest Israeli companies on the Tel Aviv stock exchange. Together, they have established a tight noosed monopoly on the medical marijuana production in Uganda. They have invested $360m (about Shs1.3 trillion) in Hima, Kasese.
The most recent time was the third occasion that the company benefited off large exports of medical marijuana. In March 2020 they exported 600kgs to Israel before exporting another 1.7 tons to the same country in January 2021 followed by the most recent haul on the 16th where they exported 400kgs.