Zimbabwe’s President Emmerson Mnangagwa has commissioned a US$27 million Swiss Bioceuticals Limited Medicinal Cannabis Farm and Processing Plant in Mount Hampden, Mashonaland West Province.
Speaking at the launch, Mnangagwa also implored investors in cannabis farming and processing to quickly operationalize their permits and licences for the benefit of the country’s economy.
Only 15 of the 57 cannabis permits issued by the Zimbabwe government since 2018 have been activated, raising fears some of the permit holders are holding the permits for speculative purposes.
“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,” Mnangagwa said.
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“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.
“To date, investments, support and partnerships from entities linked to the Swiss Confederation (Switzerland), span across sectors such as agriculture, cement manufacturing, agriculture value chain industries and food processing as well as in spheres such as governance, institutional building and the preservation of the country’s cultural heritage.”
He added: “Leveraging on the Swiss – Zimbabwe Business Chamber launched in 2021, I urge all stakeholders to scale up efforts to see more investment and trade between businesses of 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.”
I applaud the Swiss Bioceuticals Limited for the commitment, hard work and professional manner in which it has successfully and speedily carried out this project.
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He commended the investor for speedily executing its operations from the time it got its operating licence.
“Since the granting of the licence to produce medical cannabis and permit to operate in 2020 and 2021, respectively, five hectares of land for the production of medicinal cannabis have been established under greenhouses. 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.”
At the Mt Hamped factory, Swiss Bioceuticals limited has constructed a state-of-the-art medicinal cannabis processing plant, fitted with the first line of medicinal cannabis oil processing.
It is also equipped with a cannabis oil processing line aimed at stimulating bio-medical solutions and pharmaceutical products for both local and international markets.
