![[Kenya] Digital credit provider Tala disbursed Sh240 billion in loans in eight years](https://theafricanbusiness.com/wp-content/uploads/2023/02/TALA-APP-360x180.jpg "[Kenya] Digital credit provider Tala disbursed Sh240 billion in loans in eight years 18")
In a landmark decision, Ghana’s parliament has approved the cultivation of cannabis for industrial and medical purposes, signalling a revolutionary shift in the country’s economic landscape. With this move, Ghana is set to become a significant player in the booming global cannabis market, worth billions of dollars.
Breaking free from outdated norms, the new law permits the Minister of Interior to issue licenses for cannabis cultivation, but with strict restrictions on Tetrahydrocannabinol (THC), the psychoactive component that induces the “high” associated with cannabis.
This legislative triumph, however, did not come without its share of hurdles. Ghana’s journey to legalisation faced a roadblock when the Supreme Court initially deemed a key section of the statute as unconstitutional. Nevertheless, Ghanaian lawmakers swiftly responded by passing the game-changing Narcotics Control Commission (Amendment) Bill 2023, unlocking a world of opportunities for the nation.
Ghana’s ambitions go far beyond recreational use. The government plans to harness cannabis’ vast industrial potential, exploring its applications in fibre and controlled growth seed. This progressive approach mirrors a broader trend in Africa, as several nations, including Lesotho, Zimbabwe, South Africa, and more, have taken the leap to legalise cannabis for medical and scientific purposes.
Despite the optimism surrounding this green revolution, experts emphasise the need to ensure inclusivity for all stakeholders, particularly smallholder farmers. It is essential to prevent a situation where corporate giants dominate the industry, leaving ordinary producers struggling to compete.
As Ghana enters this new era, policymakers face the challenge of striking the perfect balance between fostering economic growth and prioritising social well-being. A well-executed cannabis industry could lead to a surge in employment opportunities, spur economic growth in local communities, and set a precedent for sustainable development across the continent.
