Tag: rwanda

Rwanda’s economy ranks 171st on earth according to World Data, making it one of the poorest countries on the planet. Rwanda’s economy is still largely agrarian, with many citizens living in rural, undeveloped areas.

Years of conflict, particularly in the 1990s, ravaged the African nation and negatively impacted the already-dim economic prospects within its borders. Needless to say, any and all reasonable boosts to Rwanda’s economy are surely welcomed.

The emerging international cannabis industry is creating jobs, generating revenue for governments, and providing boosts to local economies at an ever-increasing rate around the globe as more and more countries reform their cannabis policies. If certain leaders in Rwanda have their way, their country will join the list of international cannabis industry leaders. Per The New Times:

Rwanda is looking to attract at least Rwf19 billion (about $17.5 million) investment in the production of cannabis, also known as a high-value therapeutic crop, The New Times has learnt.

The development was recently ranked among the country’s top 100 investment opportunities, during the Invest Rwanda Forum held last week.

According to the Rwanda Development Board (RDB), global cannabis production is projected to grow from the current $28.3 billion raked in 2021, to $197.7 billion in 2028 at a compound annual growth rate of 32 per cent.

Whether or not the projection offered up by the RDB proves to be accurate is anyone’s guess. And exactly to what extent the cannabis industry may help Rwanda’s economy specifically is unclear at this time, particularly since it involves many factors.

However, if Rwanda’s government and business community can develop its domestic cannabis industry, and especially if that industry can make meaningful inroads in the export market, amazing things could happen.

Rwanda may not be the first country that you think of when it comes to the emerging cannabis industry, however, the African nation is ramping up its efforts to cash in on the ever-expanding international cannabis industry.

Located just a few degrees south of the equator, Rwanda is home to a tropical climate that in many ways makes it an ideal location to cultivate the cannabis plant.

Last year the government in Rwanda, officially known as the Republic of Rwanda, announced plans to cultivate medical cannabis, with a heavy emphasis on exports.

The nation’s industry passed a major milestone this month when the government officially designated land for cannabis cultivation. Per The New Times:

Now, a few months since then, a number of steps have been taken towards starting the operations, among which, according to information availed to The New Times by the Rwanda Development Board (RDB), the government has designated a specific area of 134ha to cannabis production “and is in the process of having this site developed.”

In addition, RDB disclosed that a significant number of companies have shown interest in the cultivation, processing and export of cannabis from Rwanda.

As of right now, no actual medical cannabis cultivation licenses have been issued by the Rwandan government. Many rules and regulations are still being crafted, and the designation of land is just one of the many policy components that are needed before Rwanda can actually start cultivating cannabis.

The amount of land designated in Rwanda for cultivation is not enormous compared to cultivation operations in other countries, however, the designation is still a major milestone nonetheless, and hopefully it speeds up the process of Rwanda issuing licenses and helping suffering patients.