Canna-Q™ – the operator of a major medical cannabis project in Lesotho – has appointed Uzenzele Holdings as part of its advisory team to secure finance and off-take agreements in 2020.
Canna-Q™ is a transformative Lesotho-based medicinal cannabis cultivation project which will be actively seeking strategic partnerships in the European Union (EU), Canada and the US amongst others.
Uzenzele is a South African based advisory firm specialising in assisting entrepreneurs raise capital through a variety of different channels including debt, equity and grant incentives.
“The Canna-Q™project is transformative for the Lesotho economy,” says Zahra Rawjee, transaction advisor at Uzenzele. Rawjee notes that while nearly 50 cannabis project licenses have been issued in Lesotho, only a handful will have the necessary technical and financial backing to bring their product to market and this is one of the areas where Canna-Q™is likely to differentiate itself.
Canna-Q™ facilities will be Good Manufacturing Practice (GMP) certified to European Union standing and the facility is expected to benefit from access to a combination of both technical and financial skills within the group.
“Raising funding is only part of our mandate,” says Nadia Rawjee, a director at Uzenzele.
She adds: “To ensure the sustainability of the project, we need to secure high-quality off-take agreements and strategic partnerships in the export market and identify businesses operating in the fields of medical and pharmaceutical cannabis who are looking for high-quality suppliers.”
According to research gathered by Barclays Bank, the global market for medical cannabis is now estimated at $150bn and could reach $272bn in 2028 and represents a significant new opportunity for high-quality suppliers and manufacturing operations.
With the Southern African economic region desperately seeking new industries and economic growth clusters, projects such as those being undertaken by Canna-Q™ could be game-changers for the region.