CANNABIS INDUSTRY
BREAKING NEWS
King Kong’s First Cannabis Facility Nearing Completion in Rwanda
The construction of Rwanda's first cannabis facility in Musanze is set to be completed by the end of May 2024, according to license holders KKOG.
Cannabiz Africa
16 May 2024 at 08:00:00
This is according to a post on Linked-In from KKOG founder and CEO Rene Joseph, who says the state-of-the-art facility will include extraction and research components, marking a significant milestone in Rwanda's cannabis industry.
Joseph says he envisions the facility as not only a hub for cannabis cultivation but also for research and product development, with plans to introduce cannabis-infused liquors by 2025.
READ: King Kong secures Rwanda's first medical cannabis license.
Rwanda's journey towards legalizing medical marijuana began in 2010 when the Ministry of Health proposed legislation for its medicinal use. In 2021, Rwanda passed an order legalizing cannabis for medicinal purposes while strictly prohibiting recreational use and sales.The government enforces stringent measures to prevent illicit production, distribution, and consumption of cannabis, ensuring that cultivation remains tightly regulated and secure.
The Rwanda Development Board (RDB) views the legalization of medicinal cannabis as a significant investment opportunity, projecting substantial growth in global cannabis production. With an estimated investment potential of Rwf19 billion, Rwanda aims to capitalize on this emerging market.
READ: Rwanda hopes to capitalize on cannabis in attracting foreign direct investment
KKOG says its substantial investment underscores its confidence in Rwanda's potential and its commitment to driving economic growth through medicinal cannabis cultivation.Joseph, applauded the government's progressive approach towards medicinal cannabis, emphasizing its positive impact on job creation and economic expansion.
He acknowledged the pivotal role played by the government and the RDB in facilitating this endeavor, saying their vision and support had helped pioneer legislation and fostered innovation.
There are other companies in Rwanda hold provisional licenses for cannabis cultivation, KKOG is the first to acquire a full license. With a presence in multiple African countries and a commitment to empowering local farmers, KKOG says it aims to lead the continent in medicinal cannabis cultivation, laying the foundation for sustainable economic development and prosperity.
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