The Chamber of Cannabis Industry is calling on the government to include cannabis industry in the reset agenda as to diversify Ghana’s cash crops and generate revenue to support the economy.
Cannabis, popularly known as marijuana, is a herbal medication made from plants in the Cannabis species that is used to treat a variety of symptoms and diseases, including cancer, chronic pain, and mental disorders.
And according to Allied Market Research, the global cannabis market size was valued at $25.7 billion in 2021 and is projected to reach $148.9 billion by 2031.
As acclaimed by the Chamber, Ghana had one of the best climates in the world to cultivate cannabis, and that the country has the potential to generate about 1 billion dollars from the $50 billion dollars global cannabis market.
The Chief Executive Officer of the Chamber of Cannabis Industry, Dr. Mark Darko, made this call during the launch of the Chamber of Cannabis Training Centre, and Sky Bridge Pharmaceuticals in Accra.
Dr. Darko stressed that Ghana must leverage its cannabis resource for medicinal and industrial purposes, following the passage of the Narcotics Control Commission Bill, 2023, which grants permission for the cultivation of cannabis for industrial purposes.
“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,” Dr. Darko noted.
Dr. Darko also indicated that the medicinal cannabis sector is a cornerstone to the growth of the sector due to its usefulness in chronic pain management, epilepsy treatments, among other benefits.
In addition, Dr Darko stated that the Chamber’s Training Centre with support from the Sky Bridge Pharmaceuticals would equip farmers and processors with the tools and techniques to cultivate and process cannabis and hemp sustainably.
Also speaking at the launch, the Group CEO of Sky Bridge Group, Dr Samuel Twumasi, pointed out that the company’s decision to invest in the cannabis sector was intended to produce world-class cannabis-based medicines that met the highest global standards.
He, however, appealed to the government to expedite the passage of fees for the acquisition of licenses for the cultivation of cannabis to facilitate investments in the
sector.
Reporting By Stephen Freeman, Accra.
