Gov’t Already Minting Billions From Marijuana After ‘Secretly’ Permitting Some Companies To Carry Business

Gov’t Already Minting Billions From Marijuana After ‘Secretly’ Permitting Some Companies To Carry Business

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By Spy Uganda

Kampala: According to our sources, Uganda last week exported about 400 kilogrammes of medical marijuana to Germany which is actually reported to be the fourth delivery since the government ‘secretly’ permitted a few companies to carry the business in the among hundreds that yearn for this lucrative opportunity.

READ ALSO: Lucrative Cannabis Not Among Top Addictive Drugs-Study Proves Amidst Uganda’s Delay To Legalize Plant

Medical marijuana uses the marijuana plant or chemicals in it to treat diseases or conditions. It’s basically the same product as recreational marijuana, but it’s taken for medical purposes and it’s reported that a kilo is sold at UGX18 millions in Germany.

Previously, the health ministry issued guidelines to individuals and companies seeking to grow or export marijuana for medical purposes.

READ ALSO: Opinion: Medical Cannabis, Labour Externalization Only Post-Covid-19 Economy Booster

Among the guidelines, investors must be cleared by the tax authorities, present evidence of value addition to cannabis and have a minimum capital of $5m (Shs18.3b) and a bank guarantee of $1m (Shs4b). However, this website has learnt that among the many companies that have shown interest in this business, the government only approved, Hemp Uganda Ltd, as the only company licenced to grow and process medical cannabis.

According to some media reports, Mr Benjamin Cadet, one of the directors at Industrial Hemp Uganda Ltd said they exported the products last Saturday, October 16 and want to start selling some of their finest medical marijuana products in Ugandan markets with the main goal of making the country a global tourism hub for medical cannabis.

READ ALSO: Here Are 50 Surprising Benefits Of Cannabis UG Gov’t Needs To Urgently Consider & Legalize It

“We have developed 10 products of medical cannabis that we have submitted to National Drug Authority for approval so that Ugandan patients can benefit other than exporting to other countries,” Cadet was quoted saying;

“We want to thank President Museveni for the support and providing a conducive environment that enables individual innovations in medical cannabis. The medical cannabis industry is good for the country’s economy and will make Uganda be one of the best medical cannabis producers in the world,” he said.

READ ALSO: Rwanda Passes Law Backing Use Of Lucrative Medical Cannabis As Uganda Continues To Sleep Despite Staggering Economy

Sources have it that the company had in March 2020 exported 600 kilogrammes of medical marijuana to Israel and in January 2021, it also exported a total of 1.7 tonnes to the same country.

Secret In Medical Marijuana

Let’s today look at ”Cannabinoids. These are active chemicals in medical marijuana that are similar to chemicals the body makes that are involved in appetite, memory, movement, and pain. Limited research suggests cannabinoids might:

READ ALSO: Uganda Could Miss Trillions On Medical Cannabis Business: Sudhir Writes To Museveni Over Delayed Authorization

  • Reduce anxiety
  • Reduce inflammation and relieve pain
  • Control nausea and vomiting caused by cancer chemotherapy
  • Kill cancer cells and slow tumour growth
  • Relax tight muscles
  • Stimulate appetite and improve weight gain in people with cancer and AIDS among other importances.

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