Cash-strapped Zimbabwe will incentivise foreigners to invest in a dagga (cannabis), industry that could generate R115bn per year by 2023.
Dagga is a word used in certain areas of Southern Africa to describe cannabis. The term, dating to the 1660s, derives from the word dacha in the Khoekhoe language used to describe the drug as well as various species of Leonotis.
The Zimbabwean government wants South Africans and other foreigners to take advantage of its vast agricultural potential to grow dagga in that country.
It’s unclear what the incentives entail, but the Zimbabwe Investment Development Agency says it will release the details “soon”.
A competitive regime of incentives has been put in place to attract the needed investment. Details in that regard can be obtained through the Zimbabwe Investment and Development Agency, Monica Mutsvangwa, Minister of Information – Zimbabwe.
The Continent’s legal dagga industry could generate R115 billion per year by 2023 if more markets open up, according to Kevin Samaita.