The President and Founder of Save the Nation for Future Leaders has praised Parliament for passing the amended bill allowing the cultivation of cannabis for industrial and medical purposes.

Nana Kwadwo Atta Apeakorang claimed that the move represents a revolutionary shift in the country’s economic landscape.

He hoped that by passing the law, Ghana would become a significant player in the booming global cannabis market, which is worth billions of dollars.

The new law allows the Minister of Interior to issue cannabis cultivation licences, but only with strict limits on Tetrahydrocannabinol (THC), the psychoactive component that causes the “high” associated with cannabis.

He explained that the global cannabis industry generates an estimated US$1 billion per year, and Ghana could learn from countries such as the United States of America, Canada, Mexico, Costa Rica, Argentina, and Peru, which have identified cannabis’s value contribution to their economic growth.

He added on Frontline Rainbow Radio 87.5Fm that cannabis is also beneficial to the cosmetic industry because it is used in hair and skin products.

He praised Ghana’s attempt, through parliament, to cultivate cannabis legally for the benefit of the economy and the health sectors.

He also argued that the growth of cannabis could alleviate the shortages faced by businesses that rely on cannabis for medical, cosmetic, and industrial purposes.

When asked if Ghana has the capacity to cultivate and industrialise cannabis, he responded positively, saying, ”We have the capacity. We’ve seen how successful people have been in establishing businesses in this country, and I am confident that with the passage of the law, we will benefit”.

”Ghana would need to position itself properly,” he said. This could also help us address the issue of degraded lands caused by illegal mining. The opportunities are enormous, and Ghana will benefit if we adopt the right mindset”.