The medicinal cannabis craze in Lesotho has fully taken flight and if everything is handled well, Lesotho is poised to become one of the world's largest exporters of medicinal cannabis oil.
Some few days back, a British firm opened a processing plant in Lesotho for the processing of medicinal cannabis. King Letsie III of Lesotho took centre stage at the opening of the Verve Lesotho cannabis processing facility, at an extravagant event headlined by investors lining up to get a taste of potential cannabis riches.
The British-controlled firm is making firm assertions that the newly commissioned extraction plant will be producing more cannabidiol (CBD). CBD is an active ingredient of cannabis. It is a chemical compound found in marijuana which some say it possesses immense healing powers. CBD does not produce a euphoric "high." It helps to relieve with arthritis pain, multiple sclerosis, and even general chronic pain. It can also cure anxiety and epilepsy.
Because of the growing demand of CBD oil across the world for pain alleviation, Lesotho finds itself in a favourable position. Lesotho made it legal for the growing and cultivation of medicinal cannabis, something many African countries are struggling to come to terms with.
“We are poised to become of the lowest cost producers of medical cannabis extracts in the world." These words echo the vision shared by Sam Matekane, a "prominent Lesotho businessman who teamed up with Brits Richard Davies and Joe Simon to set up the venture."
However, the compound's medical benefits are still unproven.
There is just an atmosphere of optimism that the new processing plant will yield huge positive financial margins not only for the company but also for Lesotho at large. And it is Lesotho that has to gain from these innovations and adaptions to the changing world patterns in cannabis consumption.
Header image credit - Umaizi