The Chamber of Cannabis Industry has called on the Government to prioritize investments in Ghana’s cannabis industry as part of its efforts to diversify the country’s cash crops and boost economic growth.
Highlighting Ghana’s favorable climate for cannabis cultivation, the Chamber projected that the country could generate approximately $1 billion annually from the $50 billion global cannabis market.
Dr. Mark Darko, Chief Executive Officer of the Chamber of Cannabis Industry, made the appeal during the launch of the Chamber’s Cannabis Training Centre and Sky Bridge Pharmaceuticals in Accra. He emphasized the immense economic potential of cannabis cultivation, particularly following the enactment of the Narcotics Control Commission Bill, 2023, which permits the cultivation of cannabis for industrial purposes.
“One hectare of cannabis cultivation can yield earnings of up to $10,000. With the global cannabis industry valued at $50 billion, Ghana’s share of just $1 billion annually could significantly impact the nation’s economic fortunes. Cannabis has the potential to reset Ghana’s economy,” Dr. Darko stated.
He further underscored the value of medicinal cannabis, which has proven benefits in managing chronic pain, treating epilepsy, and other medical conditions.
The Chamber’s Cannabis Training Centre, supported by Sky Bridge Pharmaceuticals, aims to equip farmers and processors with advanced skills in sustainable cannabis and hemp cultivation. The facility will also promote research and innovation, fostering the development of high-quality cannabis-based products for the global market while adhering to ethical practices.
Dr. Samuel Twumasi, Group CEO of Sky Bridge Group, shared his company’s commitment to producing world-class cannabis-derived medicines that meet international standards. He urged the Government to expedite the approval of licensing fees for cannabis cultivation to attract greater investment into the sector.
Cannabis, commonly known as marijuana, is derived from plants in the Cannabis genus and is widely recognized for its medicinal properties. It is used to alleviate symptoms associated with conditions such as cancer, chronic pain, and mental health disorders.
According to Allied Market Research, the global cannabis market was valued at $25.7 billion in 2021 and is projected to reach $148.9 billion by 2031.
Source: Ghanaweb.com /Picture Credit :ghanaweb.com
