Namibia has the opportunity to create a dynamic, highly opportunistic, forward-looking industry, serving the fast growing cannabis and hemp industries in Africa and around the globe.
Cannabis and hemp cultivation and their various products are currently some of the fastest growing industries in the United States, Canada and many other parts of the world. It is projected that when recreational use is universally adopted, the total market value will be in excess of that of spirits and beer.
The current strategy for South African cultivators is to supply and work with compliant distributors and producers of the world to create a sustainable business model and develop their growth-oriented market opportunity. South Africa, Lesotho, Swaziland and Zimbabwe have already approved licenses to produce hemp and medical cannabis products.Namibia’s cannabis industry
With Namibia not being on the forefront of the hemp and medical cannabis industry, when licensing opportunities arise it is foreseen that Namibian entrepreneurs will form partnerships with entities that have industry experience and a deep, rich history of successfully working in the legal hemp and cannabis markets. This is the model followed by Namibia’s neighbours.
Whether these foreign entities will be allowed any majority shareholding in local companies is to be seen. Cultivation and value addition can play a major role for Namibian industry as it can ensure local job creation and create growth for the Namibian economy. Enabling rural economies should be the focus of any government decision.