Africa Cannabis Industry & Marijuana Business News

Sources: Lesotho’s draft cannabis regulations to be ‘grandfathered in,’ giving existing firms an edge over new entrants 

Sweeping changes to Lesotho’s cannabis regulations are set to go into effect later this year and are expected to be grandfathered in, meaning existing businesses will be exempted from the most burdensome parts of the new rules, according to government and industry sources. Marijuana Business Daily recently reported that the southern African country is planning […]

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EXCLUSIVE: Lesotho planning overhaul of medical cannabis rules

A revamped round of regulations is in the works in Lesotho that would spell out new guidelines for awarding medical cannabis business licenses in the southern African nation, Marijuana Business Daily has learned. While many of the proposals are more business-friendly than the current rules, some of the draft amendments would effectively erect barriers for […]

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Cannabis the most widely used drug globally, UN World Drug Report says 

Marijuana was the most widely used drug around the world in 2017, with an estimated 188 million consumers that year, according to a new report from the United Nations. The 2019 World Drug Report provides an overview of the international supply and demand of cannabis, as well as other drugs. The data also underlines the […]

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South Africa approves continent’s first federal cannabidiol law

A change to South Africa’s medicines law means the country is the first in Africa to carve out a federally approved market for nonprescription CBD. Health Minister Aaron Motsoaledi amended the country’s Medicines and Related Substances Act, 1965, to remove certain cannabidiol preparations for nonserious health claims on the recommendation of South African Health Products Regulatory […]

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Canadian medical cannabis exports tripled last year, as race for European market position intensifies

Exports of medical cannabis from Canada soared last year as the country’s biggest licensed cannabis companies continued to establish beachheads in new medical markets overseas. Shipments of dried cannabis tripled to 1,460 kilograms (3,219 pounds) in 2018, compared with 500 kilograms in 2017 and only 44 kilograms in 2016. Exports of medical cannabis oil doubled […]

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EXCLUSIVE: Zimbabwe approves first license for private cannabis company

A Zimbabwe company says it received approval for its cannabis license, which will make it the first in the country to be permitted to commercially produce medical marijuana nearly a year after the nation legalized cultivation for medicinal and scientific purposes. Precision Cannabis Therapeutics Zimbabwe was approved for the license March 7, pending payment of a […]

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Canadian marijuana companies raised landmark CA$12 billion in 2018

Marijuana firms in Canada raised a record 11.96 billion Canadian dollars ($9 billion) last year as they prepared to meet demand in the new adult-use market and grow their medical operations globally. That represents a 150% increase over 2017, when Canadian companies raised CA$4.7 billion, according to data compiled by Viridian Capital Advisors and shared […]

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Chart: Another record-setting year for MJBizCon mirrors massive marijuana business potential

MJBizCon, which is hosted by Marijuana Business Daily, continues to smash attendance records amid strong, ongoing growth in the cannabis industry, solidifying its position as one of the fastest-growing trade shows in the nation.

This year’s conference attracted more than 27,000 cannabis professionals to the Las Vegas Convention Center, a record for the event and the marijuana industry.

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Is Canada’s marijuana legalization a ‘template’ for the world to follow?

Canada took its first steps into a future of legal cannabis Wednesday, but what that means for prohibition in other countries largely remains to be seen. Will other countries follow Canada’s move toward ending prohibition? What impact will ending prohibition there have on global medical cannabis markets? Canadian Senator Tony Dean believes every country will […]

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‘Global paradigm shift’: International cannabis business opportunities will accelerate

Hours after Constellation Brands announced its marijuana-industry-record investment of 5 billion Canadian  dollars ($3.8 billion) in Canada’s Canopy Growth, experts told cannabis entrepreneurs and investors at MJBizConINT’L in Toronto on Wednesday that global cannabis business opportunities will rapidly accelerate. The move by Constellation – which owns, distributes and markets 100 beer, wine and spirits brands, including Corona and Robert […]

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