
In order to diversify Ghana’s cash crops and create income to boost the country’s economy, the Chamber of Cannabis Industry has urged the government to invest in the cannabis sector.
According to the Chamber, Ghana could make around $1 billion from the $50 billion global cannabis market because it has one of the best climates in the world for growing cannabis.
At the launch which was held at the Chamber of Cannabis Training Centre and Sky Bridge Pharmaceuticals in Accra, Mark Darko, the CEO of the Chamber of Cannabis Industry, made the call.
Following the passage of the Narcotics Control Commission Bill, 2023, which authorizes the cultivation of cannabis for industrial purposes, he stated that Ghana must utilize its cannabis resource for both medicinal and industrial purposes.
He said in a $50 billion industry, Ghana could earn at least $10,000 from a single hectare of cannabis. He went on to say that Ghana will be able to generate some revenue if it can generate at least $1 billion in cannabis revenue each year.
He said, “Cannabis will reset Ghana’s economy.”
Mark Darko went on to say that among its many advantages, medicinal cannabis is a key component of the industry’s expansion because it can be used to treat epilepsy and chronic pain.
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With the help of Sky Bridge Pharmaceuticals, he said, the Chamber’s Training Center would give farmers and processors the skills they need to grow and handle cannabis and hemp in an environmentally friendly manner.
According to him, the Center will also support ethical behavior and research and innovation to create goods that serve international markets.
Samuel Twumasi, Group CEO of Sky Bridge Group, said the company decided to invest in the cannabis industry in order to manufacture top-notch cannabis-based medications that adhered to the strictest international regulations.
To encourage investment in the industry, he urged the government to enact fees and charges for cannabis cultivation licenses as soon as possible.