africa Agriculture Economy FDI South Africa

Canadian company to grow cannabis in southern Africa

A Canadian company is teaming up with AfriAg, an agricultural firm in South Africa, to grow and distribute cannabis products in southern African countries.

LGC Capital, a Canadian investment company registered in Montreal that works with Cuban businesses, hopes to become the first and only Canadian publicly-traded company licensed to grow and export cannabis for a global market.

AfriAg owns and manages many agricultural facilities, including greenhouses, and is one of the largest distributors of perishable foods coming out of the southern African region.

The objective of the partnership is to develop a regulated cannabis growing and processing industry in southern Africa for worldwide exportation.

AfriAg will help LGC secure land and processing facilities to grow cannabis crops and produce cannabis seeds and extracted oils, dried marijuana leafs, cigarettes and vapours.

Source: Montreal Gazette

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