Zim’s friendly investment policies lauded

Zim’s friendly investment policies lauded

Hosia Mviringi

Favourable investment policies that were adopted by the Zimbabwean government since the coming in of the second Republic have opened up the country to serious multi-sectorial investment opportunities.

Speaking at the launch of the Swiss Bioceuticals AG Company at Arden Farm in Nyabira earlier this week, Swiss Bioceuticals AG Founder and Managing partner, Mr Spencer Nigel Drummond acknowledged that indeed Zimbabwe has made strides in opening up the country to foreign investors in various sector of the economy including Cannabis farming.

“The days of growing one crop are fast fading away as the demand (for medicinal cannabis) is growing in the world. Switzerland is proud to be a part of this as Zimbabwe has opened its doors to business from Switzerland,” said

Switzerland is one of the single biggest source nations who are heavily invested in the Zimbabwean economy with such companies as Nestlé, LafargeHolcim, Bata Shoe Company, Pure Africa, Syngenta, ABB, Schindler, and Organic Africa dominating their own fields, creating employment and contributing immensely to government revenues, forex earnings and import substitution.

The new Swiss kid on the block, Swiss Bioceuticals AG is a market leader in the wholesale of independently tested organic, solvent and pesticide free acidic cannabinoids and bulk terpenes.

Government, through Statutory Instrument number 62 of 2018 (SI62/2018) legalised the growing of medicinal cannabis as a way of diversifying the country’s agro-industrial complex to include more valuable cash crops.

Medicinal cannabis production in Zimbabwe has huge potential of tapping into the huge cannabis market which is expected to reach IS$272 billion by 2028 according to Barclays Bank analysts. Finance Minister Mthuli Ncube is on record stating that Zimbabwe is eyeing US$1 billion chunk of that, more than the country’s to earning crop, tobacco.

Zimbabwe becomes the second country in Africa to legislate medicinal use of cannabis.
Lesotho was the first to legalise use of marijuana for medicinal purposes.
Speaking at the same event, Agriculture Permanent Secretary, Dr John Bhasera hailed President Mnangagwa’s “Open for business mantra” saying this is only but the beginning of massive investment into the sector which bears immense potential.
“This event is a trickle down benefit and testament of the fruits of the ZIDA instalment and the Engagement and Re-Engagement efforts of the Second Republic.
These are fruits of the mantra “ZimbabweIsOpenForBusiness.”
“The industry will in 2025 be worth US$150 billion and Zimbabwe having a greater share of that thanks to President ED Mnangagwa’s visionary leadership,” said PS Bhasera.