Zimbabwe President Mnangagwa commissions Ksh.3.2 billion bhang farm
Zimbabwe President Emmerson Mnangagwa has commissioned a USD 27 million (approx. Ksh.3.2 billion) medicinal marijuana farm in Mount Hampden area, Mashonaland West Province.
The farm is fitted with a state-of-the-art processing plant aimed at stimulating other bio-medical solutions and pharmaceutical products for both local and international markets.
The project, which was launched in collaboration with the government of Switzerland, has seen the Swiss Bioceuticals Limited Medicinal Cannabis Farm and Processing Plant set up shop in the said area.
According to Mnagangwa, the partnership demonstrates Switzerland’s confidence in investing in Zimbabwe’s economy, noting that the European nation had already partnered with Harare in other ventures such as manufacturing, food processing and institutional building.
“I extend my profound congratulations to the Swiss Bioceuticals Limited for this timely investment in the medicinal cannabis farm, processing plant and value chain, worth US$27 million,” Mnagangwa said when he toured the plant on Wednesday, according to ZBC news.
“This milestone is testimony of the successes 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.”
Zimbawe’s Head of State correspondingly thanked Swiss Bioceuticals for moving with haste to establish the plant after initially being handed licenses to operate in the country and produce marijuana in 2020 and 2021 respectively.
According to Mnagangwa, five hectares of land, fitted with greenhouse, have since been established by Swiss Bioceuticals for marijuana farming since 2021.
“I exhort the company to accelerate its plans to increase the hectarage to 15 by the end of this year, towards the realisation of the target of 50 hectares by 2023,” he said.
Mnagangwa went on to challenge companies issued with operating licences in 2018, to utilise them and better Zimbabwe’s economy.
He likewise urged relevant stakeholders to augment efforts to see more investment and trade between the two countries.
“As government, we recognise that Switzerland is one of the leading European investors and we are ready to receive more investments from that country,” said Mnangagwa.