The Ugandan government will be smiling all the way to the bank after putting pen to paper in a KSh 160 billion deal (4.2 million USD) to export medical marijuana products to Germany and Canada.
The one year deal will see the country export Cannabinol (CBD) and Tetrahydrocannabinol (THC) with a mixture of 2.7mg THC and 2.5mg CBD for Sativex drugs approved in USA, Europe and Canada to 20,000 pharmacies in the two countries.
The marijuana export deal was confirmed by Benjamin Cadet, who is one of the directors at Industrial Hemp (U) Ltd, a private firm expected to transact the marijuana business.
In an interview with Uganda’s Daily Monitor, Cadet revealed his company which is jointly working with an Israel company, Together Pharma Ltd, received an order to deliver marijuana worth KSh 10 billion to Canada and KSh 6.5 billion of the same to Germany as from June 2019.
Cadet added the export deal will run for the next ten years and Uganda is expected to increase supply as time goes by.
”We signed annual supply contracts with pharmacies in Canada to a tune of KSh 100 billion and KSh 6.5 billion for Germany.
The current contracts run for 10 years but along the way, we shall expand to satisfy future demand,” he said.
It should be noted this is not the first time Uganda is exporting marijuana.
In December 2018, Uganda exported unrefined cannabis buds to South Africa’s National Analytical Forensic Services in Pretoria in a deal that gave the country a substantial amount of revenue.
By TUKO news
