Rwanda approves cannabis production for exportPosted by MMP News AuthorOn October 15, 2020

The government of Rwanda on Monday approved the cultivation and production of medical cannabis for export in a cabinet meeting that was chaired by the country’s president, Paul Kagame.

In a follow-up statement on Tuesday, the Rwanda Development Board (RDB) said the approved regulatory guidelines “provide a framework for investment in the production and processing of medical cannabis” in the East African nation solely for “export to growing global markets.”

“Rwanda will begin to receive applications for licenses from interested investors for this high-value therapeutic crop,” the statement said.

With the global cannabis industry currently valued at $345 billion, the Rwandan government is looking at expanding its export revenue by joining the lucrative business, The East African reports. Monday’s announcement, however, came with the government’s reiteration that the use of the plant locally for medicinal and recreational purposes remains…