Malawi Legalises Cultivation of Medicinal Cannabis; South African Company Pursues Stock Exchange Listing

Apr 2, 2024 | News, Politics | 0 comments

Malawian legislators have passed a landmark bill legalising the cultivation of a highly potent local variety of cannabis, known as Chamba or ganja, for industrial and medicinal purposes. Under the new law, the government will issue licences to individuals to grow and transport cannabis, but smoking it for recreational purposes remains illegal. House Leader Richard Chimwendo Banda clarified that the legislation strictly prohibits the recreational use of cannabis, emphasising that the primary focus is on industrial and medicinal applications.

The move represents a significant step forward for Malawi, opening up opportunities for the country’s agricultural sector and potentially boosting its economy through the production and export of medicinal cannabis products. By legalising the cultivation of cannabis for medicinal purposes, Malawi joins a growing number of countries embracing the therapeutic potential of the plant while maintaining strict regulations to prevent misuse.

Meanwhile, Cilo Cybin, a South African medical cannabis company, has announced its intention to revive plans to list on the stock exchange in Johannesburg. The company’s decision to pursue a stock exchange listing reflects the increasing investor interest in the medical cannabis sector in South Africa and across the African continent. By listing on the stock exchange, Cilo Cybin aims to raise capital to support its expansion efforts and further develop its medical cannabis products.

The developments in both Malawi and South Africa underscore the growing acceptance and recognition of the potential benefits of cannabis for medicinal purposes in Africa. As countries across the continent explore ways to harness the therapeutic properties of cannabis while ensuring regulatory oversight, opportunities for investment and economic growth in the medical cannabis industry are expected to expand.