The US$27 million medical cannabis farm and processing plant at Mount Hampden set up by Swiss Biocieuticals Limited was commissioned yesterday by President Mnangagwa who urged others with permits for natural resource businesses to follow the company’s lead and open their businesses.
He said the rapid development of the processing plant,
which adds significant value to the crop, was testimony of the success of the
Government’s engagement policy and the confidence Swiss companies and investors
had in Zimbabwe and its economy, with Switzerland now one of the top European
investors.
The President said it was important for investors to
quickly operationalise their permits and licences for the benefit of the
economy in general and people in particular, in line with Government’s set
national targets and the desire to have an upper middle income economy by 2030.
Only 15 of the 57 cannabis permits issued since 2018 have
been activated.
But the Swiss Biocieuticals medical cannabis farm has a
thriving 5ha crop of cannabis after the investor was issued an operating
licence following the Government’s decision to legalise production of cannabis
(mbanje or dagga) for medical and scientific purposes.
The development, which dovetails with President Mnangagwa’s
‘Zimbabwe is Open for Business’ mantra, is expected to enhance foreign currency
generation for the country.
At Mt Hampden, Swiss Biocieuticals built a state-of-the-art
medicinal cannabis processing plant fitted with the first line of medicinal
cannabis oil processing aimed at stimulating other bio-medical solutions and
pharmaceutical products for both local and international markets.
Said President Mnangagwa: “I challenge other players within
the medicinal cannabis sub-sector to speedily set up their enterprises, with
focus on value addition and beneficiation. It is disappointing that since 2018,
only 15 out of the 57 entities issued with cannabis operating licences are
operational.
“Such licences should not be held for speculative purposes
and those not using them risk Government invoking the ‘use-it or lose-it
principle’. All licences, permits, claims and other such instruments issued to
investors must entail that national assets and resources are used for the
benefit of our economy and ultimately improving the quality of life of our
people.”
President Mnangagwa commended the Switzerland-based firm
for its timely investment in the medicinal cannabis farm, processing plant and
value chain worth US$27 million.
“The milestone is testimony of the success of my
Government’s engagement and re-engagement policy. It further demonstrates the
confidence that Swiss companies have in our economy through their continued
investment in Zimbabwe,” he said.
So far, said President Mnangagwa, investments, support and
partnership from entities linked to the Swiss Confederation span many sectors
such as agriculture and its value chains, cement, manufacturing and food
processing and spheres such as governance, institutional building and
preservation of the country’s cultural heritage.
The President meets the Southern African Development
Community (SADC) Executive Secretary Mr Elias Magosi at State House, Harare,
yesterday. — Pictures: Believe Nyakudjara
“As Government, we recognise that Switzerland is one of the
leading European investors and we are ready to receive more investments from
that country,” he said.
He urged the company to increase its hectarage from the
current 5ha and consider creating mutually beneficial synergies with local
institutions of higher learning towards broadening the country’s bio-medical
skills base, research and development initiatives.
The President commended the firm for creating employment
for local people including women and youths.
The ongoing economic reforms had resulted in notable
economic growth.
“This should motivate investors from across the world to
come to produce high quality products, goods and services from our country, for
the wide markets within both the Sadc region and the African Continental Free
Trade Area,” he said.
Vice President Constantino Chiwenga implored other cannabis
licence holders to take a cue from the Swiss-based firm and ramp up production
and add value to their product.
“This is a momentous occasion where the country continues
to expand investment into the multibillion dollar industry in the medicinal
value chain as we march towards the upper middle economy by 2030,” he said.
He said other areas where cannabis was being produced
include Shamva, Bulawayo, Kadoma and Mazowe, among others. Herald
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