The Health Ministry has announced that all local and foreign investors venturing into the production of cannabis (mbanje) will be offered 100% ownership of their farms and licences to improve competitiveness.
"Following Cabinet decision and high-level meeting, a policy change enabling investors to hold 100% ownership of Medicinal Cannabis licences was made in order to improve the competitiveness of the sector both regionally and globally," Moyo said.
One company, Alternative Health Oils (AHO), a joint venture between the government and a private firm has seen the State ceding its 40% to the former.
Government directors seconded to AHO board have also been ordered to resign with immediate effect leaving the private firm in total control of the entity.
"Having noted the need for pragmatism in this matter, Alternative Health Oils (AHO), a government company which is being administratively managed by the Ministry of Health and Child Care (MOHCC), will initiate the termination of Joint Venture Agreements, ceding 40% ownership and the resignation of AHO directors from the Special Purpose Vehicles (SPV) with immediate effect.
