The first cannabis company to be listed on the JSE has had its shares suspended for not producing its end-May 2023 annual financial statements on time.
Cannabiz Africa
30 October 2023 at 09:00:00
The Zimbabwe Investment and Development Agency (ZIDA) says the new 1 025 ha Goromonzi Agro-Industrial Park has been designated as a Special Economic Zone (SEZ), aimed at transforming the nation’s agricultural sector.
The site is 40 kms east of Harare on Mgargwi Farm in Gorongoza, Eastern Mashonaland. The project is part of the government’s broader strategy to modernize agriculture and increase farm value. It hopes to use the site to combine advanced farming techniques, agro-processing facilities, and high-value crop cultivation of cannabis to drive economic growth and job creation.
ZIDA says the cultivation of industrial hemp and cannabis for medicinal and industrial purposes will be the cornerstone of the park’s activities, which will include horticulture and high-tech farming. It says a feasibility study is available for interested investors. It is also looking for investors for blueberry and cut flower cultivation as well.
ZIDA says the capital is required over the six year time-line of the project for core infrastructure, civil works, water reticulation, offices, power supply and technology systems and seeks a mixture of debt and equity financing in three phases.
ZIDA says revenue will be generated through the sale of finished agro-processed product but also from leasing out plots in the industrial park to cannabis and hemp farmers.
ZIDA is Zimbabwe's 'one-stop' investment shop and was set up to assist international investors wanting to get involved in projects in the country. In its own words, it facilitates:
1. General investment: this is where you wish to start a private business in Zimbabwe. You can own 100% of your business get your investment off the ground.
2. Public Private Partnership: this is where you wish to partner the Government, a local authority, or a state-owned enterprise to run a business.
3. Special Economic Zone: ZIDA designates and regulates Special Economic Zones (SEZs). You can apply to develop an SEZ, operate an SEZ, or run a business in an SEZ.
For more information contact ZIDA at osisc@zidainvest,com
JSE Suspends Labat For Late Financials
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