Africa’s cannabis market estimated to be worth $7.1b by 2023 if legalized

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While cannabis is widely used in African countries, it is largely illegal. A report however says if it is legalized, the potential market value of cannabis on the continent could be up to $7.1 billion annually by 2023.

The yet to be published report by an organization called Prohibition Partners which describes itself as provider of market insights and strategic consultancy in the cannabis sector includes detailed market value forecasts, regulatory timeline analysis, consumption data and healthcare analyses for nine key markets, including Lesotho, South Africa and Zimbabwe.

“A regulated legal cannabis market could be transformative to patients, farmers and economies across Africa. From a financial standpoint, Africa could reap significant rewards through the legalisation of cannabis, with international demand offering a strong commercial opportunity for

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