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Lesotho Draws Worldwide Pharmaceutical Investors

The legalization of medical cannabis has made Kingdom of Lesotho an attractive hotspot for its producers and pharmaceutical majors from around the globe. The law passed in the year 2008 was crafted with a special focus on export. The country, being the first in Southern Africa with a legalized status has caught the eyes of a number of international investors.

Recently, a Toronto-based firm named The Supreme Cannabis Inc. has invested around eight million dollars for 10% stakes Medigrow Lesotho, a licensed producer and manufacturer of medical cannabis and its derivatives. Together, the companies have plans of exporting cannabidiol products to Canada and other overseas markets.

Earlier, a Seattle- based marijuana consulting service provider, Rhizo Sciences bought stakes in the Medi Kingdom, a local licensed producer of medical cannabis.

With a population of 2.2 million people, the Kingdom of Lesotho is currently acting as a staging ground to enter other lucrative African markets, including South Africa, Ghana, Zimbabwe, Zambia and Swaziland.

 

Read more: ‘CBD: The Biotech Boom Investors Haven’t Woken Up To Yet’

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