The government of Zimbabwe has announced a change in the policy that governs the investment and production of medicinal cannabis in the country.
Last year, the government approved the industrial production of hemp for the export market and use locally in the production of fuel.
We present the notice below:
To:- All Licencees Medicinal Cannabis Special Purpose Vehicles
RE, POLICY CHANGES IN THE INVESTMENT AND PRODUCTION OF MEDICINAL CANNABIS
Following Cabinet decision and a high-level meeting; a policy change enabling investors to hold 100%, ownership of Medicinal Cannabis licences was made in order to improve the competitiveness of the sector both regionally and globally. At the same meeting, it was also agreed that investors had the option to utilize private land for the cannabis project.
In order to regularise the policy changes, a draft Investment Stabilisation Agreement is being reviewed by the Attorney General’s Office. The finalisation has been delayed somewhat due to the focus in the fight in controlling the global Covid-19 pandemic.
Having noted the need for pragmatism in this matter; Alternative Health OJs (AHO), a government company which is being administratively managed by the Ministry of Health and Child Care (MOHCC), will initiate the termination Of Joint Venture Agreements, ceding 40, ownership and resignation of AHO directors from the Special Purpose Vehicles (SPV) with immediate effect. On completion of the processes amendment of the licence would be required. If the original site is changed; compliance with the licensing requirements such as security arrangements is required as well as satisfactory inspection by the Medicines Control Authority of Zimbabwe.
