President Mnangagwa has commissioned a medical cannabis farm, and processing plant at Mount Hampden set up by Swiss Biocieuticals Limited in West Province, Zimbabwe.
The Swiss Biocieuticals medical cannabis farm worth US$27 million is built with 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.
According to The Herald, President Mnangagwa commissioned the farm yesterday to produce cannabis (mbanje or dagga) for medical and scientific purposes.
During his speech, Mr Mnangagwa said the rapid development of the processing plant, which adds significant value to the crop, was a testimony of the success of the Government’s engagement policy and the confidence Swiss companies and investors had in Zimbabwe and its economy.
“This milestone is a 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. “I extend my profound congratulations to the Swiss Biocieuticals Limited for this timely investment in the medicinal cannabis farm, processing plant and value chain, worth US$27 million,” he added.
While praising the investors for the speedy execution of its operations from the time it got its operating licence, the President also urged other investors with permits to quickly operationalise their permits and licences for the benefit of the economy in general and people in particular.
He added that the investors should follow the company’s lead and open their business to support the mantra that ‘Zimbabwe is Open for Business and be ready to generate foreign currency generation for the country.
“I challenge other players within the medicinal cannabis sub-sector to speedily set up their enterprises, focusing on value addition and beneficiation. It is disappointing that since 2018, only 15 out of the 57 entities issued with cannabis operating licences have been operational.