This is the first and important regulatory step and allows the Company to enter a detailed planning phase whereby it will identify the site, variety and protocols required for production.
US market research company BDSA estimated a global market size of US$ 21.3 billion for 2020, with expected global sales of US$ 55.9 billion in 2026.
Among patients and healthcare professionals, there is an increasing awareness about the benefits of medical cannabis for a variety of ailments.
The license has been awarded for five years with an option to renew, and the entire project will be subject to strict controls and compliance regulations.
“This approval lays the foundation for Amatheon Agri’s entry into a highly lucrative future industry,” says Founder and CEO of Amatheon Agri Holding N.V., Mr. Carl Heinrich Bruhn.
“Its variety of landscapes, ideal climatic conditions, abundant water supply, long hours of sunlight and talented labor market makes the country well poised for our new investment,” he says.
In line with this strategy, the Company is now focusing on the large-scale cultivation of spices, in particular Birds Eye Chillies and Cayenne Peppers.
Amatheon guarantees offtake through a contract farming agreement, whereby the farmers receive a fixed buying price pegged to the US Dollar and then markets the products regionally and internationally.
With a combination of international distribution network, incorporated local know-how as well as a sustainable vision for the future, Amatheon Agri has been able to establish itself as a strategically aligned global player in the African agricultural sector.