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$46BN MARIJUANA INCOME PROJECTED

‘Actualise legal processing of marijuana’

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  • Mr Sinkamba said actualisation of marijuana processing for medicinal and commercial purposes will help the country settle external and domestic debts within three years.

By PETER SICHALI
ZAMBIA could make $46 billion in one year from processing and exporting marijuana for medicinal purposes and should therefore stop delaying the process, says Green Party president Peter Sinkamba.

Mr Sinkamba said actualisation of marijuana processing for medicinal and commercial purposes will help the country settle external and domestic debts within three years.
Mr Sinkamba said the country could make $46 billion in one year. He said it was for this reason that he was orchestrating the growing of marijuana under an organised agenda to help the country get out of the economic mess.
“Growing of cannabis with a proper programme of management can help Zambia sort out its economic challenges,” Mr Sinkamba said.
Mr Sinkamba said they have a plan that would dismantle the country’s debt in three years. He said industrial cannabis could help the country generate about $36 billion a year and put the country back on track. Mr Sinkamba said the country could help grow the Gross Domestic Product (GDP) if marijuana programme was well implemented.
He said it was practically impossible for the mining sector to help the country clear its debts.
He said the GP would also dispose of toxic assets such as shares in mining companies that had not been paying off to settle bond interests.
Mr Sinkamba said Government should sell off ZCCM-IH shares in mines that were not paying off in terms of dividends and help pay some debts.
“There are those toxic shares in mining companies that do not pay off dividends because they always report losses, that should be sold off as an emergency measure to the debt crisis,” Mr Sinkamba said.
Mr Sinkamba said Government should also use environmental debts that mining companies owed amounting to $1 billion to help dismantle the debt.
“KCM under liquidation has an environmental debt amounting to about US$1 million, same applies to Mopani under the Environmental Protection Fund and this debt can be converted into cash and help the country sort out some of its economic challenges,” he said.

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