By Our Reporters
The Managing Director of Ruparelia Group Rajiv Ruparelia has called upon the Government of Uganda to put more efforts in legalizing medical marijuana to allow local Investor’s to grow marijuana since they are ready to invest.
While appeared on local media station over the weekend “Sanyu FM” in an interview Rajiv revealed that many local firms are waiting for Government finally legalize marijuana growth since even his firm has finalised to acquire land where the cannabis will be grown from. “So am more than ready to invest in billion of money”
“Like I said, We are waiting for the cabinet to pass the cannabis bill because we want to invest into the medical cannabis industry. We don’t need to be following every other nation so I’m very proud of our cabinet, parliamentarians because of the action taken in this initiative to drive it fast than our neighbors,” the businessman disclosed. Rajiv Said
He adds that the medical cannabis industry is going to partly solve the problem of unemployment since its going to create thousands of jobs in Uganda.
“Some organizations fighting this but I find it unnecessary because by the end of the day unemployment will be ended, our primary goal should be economic development, making our country better for our people. As a strong believer of this program, I have already tendered in my application and I’m really hoping cabinet can sit down and pass this bill because it’s going to be a game changer for Uganda unlike other countries, Uganda has the best environment, cheap labour force, available land so there’s no reason why we should not be doing it,” Rajiv asserted”
MARIJUANA IN UGANDA
The government of Uganda set up 15 strict guidelines that will be followed by companies that need to grow marijuana in the country includes; individuals and companies seeking to grow and export the cannabis for medical purposes will be required to present minimum capital of Shs18.3 billion and a bank guarantee of Shs4 billion.
The investors will also be required to present a tax clearance certificate from Uganda Revenue Authority, lists of employees and their description, a valid addition to cannabis and audited accounts.
The marijuana farms must not be located near schools, hospitals and residential areas and in case of any associates /business partners , the details must be disclosed to government , including site designs, a robust security system with access control system and intrusion systems in place.
Before Government breath it’s final word, so far more than 100 companies both foreign and local have positioned themselves to grow and export marijuana in the East African country.
The government has already formed a committee chaired by the Internal Affairs Minister Gen Jeje Odongo, to screen the applicants with a view to kicking out ‘speculators’ and recommending ‘serious companies and individuals’ for medical marijuana licenses.
So far, one company—Industrial Hemp (U) Ltd has already been licensed to grow and export medical cannabis.
The company is currently working with Together Pharma Limited, one of the biggest Israeli cannabis firm on the Tel Aviv Stock Exchange.
They have so far invested Shs1.3 trillion in Hima, Kasese and they are expected to export medical marijuana from Uganda in March this year.
MARIJUANA IT’S SELF
Medical marijuana uses the marijuana plant or chemicals in it to treat diseases or conditions. It’s basically the same product as recreational marijuana, but it’s taken for medical purposes.
The marijuana plant contains more than 100 different chemicals called cannabinoids. Each one has a different effect on the body. Delta-9-tetrahydrocannabinol (THC) and cannabidiol (CBD) are the main chemicals used in medicine. THC also produces the “high” people feel when they smoke marijuana or eat foods containing it.