Lesotho granted Africa’s first legal marijuana license
September 15, 2017
Lesotho is the first African nation to grant an official license for cultivation of marijuana for medical and scientific purposes on the continent. The South African medical company Verve Dynamics has received a regulatory approval by the Lesotho’s Ministry of Health and will be the first company to legally grow and produce medical marijuana.
This historic decision marks the growth of the cannabis industry in Africa and puts Lesotho on a central position in developing this market. The country already generates about 70 percent of South Africa’s marijuana.
“Access to medicinal cannabis on the African continent has taken another major step forward today and Verve Dynamics is honored to be the first company in Africa to have been granted regulatory approval to begin the process of growing and producing high quality cannabis extracts commercially,” says Richard Davies of Verve Dynamics in a statement.
More than 38 million Africans between the ages of 16 and 64 use marijuana yearly, according to a report by the United Nations Office on Drugs and Crime from 2007. The marijuana consumption has increased since and according to estimates Africa could potentially generate $79.8 billion a year if traded legally.
News 
Market Data 
Discover 
