Uganda will in June export R2 billion ($160 million) worth of dagga to 20 000 pharmacies in Canada and Germany.
Dagga is a healthier and less addictive option for cancer patients than morphine or other prescription opioids, a class of drug that is causing havoc in the United States.
It’s still illegal for Ugandans to use dagga, but that isn’t stopping the government from earning some hard currency by growing it for export.
Since December 2017, Uganda has sold small amounts ($10 000) of industrial hemp to South Africa's National Analytical Forensic Services.
There are currently 20 companies competing to secure clearance from Uganda’s Minister of Health, Dr Jane Ruth Aceng, to grow and export dagga for medical purposes.
The Health Ministry says it is overwhelmed by a torrent of dagga growers, both Ugandan and foreign, who want to apply to grow the plant legally.
It has suspended all new bids due to the sheer amount and the lack of regulations that are in place.
The dagga industry in Uganda may be worth R71 billion ($5 billion), according to Minister Aceng.
It's true marijuana has medicinal properties, but the medical properties are still under research... it has been proven it can be used in reducing pain in cancer patients, but even then research is still ongoing...— Dr Jane Ruth Aceng, Minister of Health - Uganda
The largest dagga company on the Tel Aviv stock exchange (Pharma Limited) says it is setting up farms in Uganda, a claim that the government there has denied.
Listen to the interview in the audio below.
Get the 10 most-read articles of the week from Bruce Whitfield’s The Money Show, emailed to you every Friday morning:
Recommendedby NEWSROOM AI
There is money to be made. Our drug laws need drastic reform, argues Dr Keith Scott of the South African Drug Policy Initiative.
The booming sector has produced 211 000 permanent jobs – more than any other industry - since the US started legalising dagga.
It’s all a bit gross and comical but there is some serious research going on in the United States.
Dagga users have 20% more sex than non-users, says Stanford University researchers, and women find sex more fun when they’re high.
Returns of 500% are not unheard of. Is this another crypto-like bubble? Not in the least, says Financial Advisor Warren Ingram.
The Money Show's Bruce Whitfield interviews Jeremy Berke (Business Insider) and Unathi Henama (Tshwane University of Technology).
North West police spokesperson Colonel Adéle Myburgh says an initial autopsy on Enoch Mpianzi was conducted this morning.
The Money Show’s Bruce Whitfield interviews the former CEO of Africa’s largest retailer by far.