https://www.podomatic.com/podcasts/karmakoalapodcast/episodes/2025-02-05T23_07_19-08_00
It was great to connect with Dr Mark Darko the CEO of the Ghana Chamber of Cannabis Industry after the news in the past week that the country’s regulated low THC, medicinal & industrial hemp markets will soon be open for business.
Mark tells us how we got here, what they are waiting on from government and the conversations Ghana are looking to have in the region, throughout the continent and internationally.
We discuss a range of topics
What the legislation allows for
Licensing
Ownership structures
Investment structures
Developing the industry
Education
The role of the AFCFTA
Thankyou Mark for taking time to speak to us
Dr. Mark G. Darko
Mark is currently the Global President of the Africa International Chamber of Commerce & Industry, a Pan-African chamber of commerce, headquartered in Ghana, with chapter offices in five different continents. He is also the CEO of the Chamber of Cannabis Industry, Ghana.
Prior to assuming this role, Mark served as the Chapter President of the Asian African Chamber of Commerce and Industry (Ghana)for four years and as Senator at the World Business Angels Investment Forum, (WBAF) honorably representing his country, Ghana at the Grand Assembly.
Mark is an Investment banker and an SME Finance expert with eighteen (18) years extensive experience in Investment Management, International Trade, Credit Management, Financial Risk Management and Corporate Finance.
Mark is an expert in financial intermediation with special focus on structured finance, financial analysis, asset management, and private placement programs.
As an investment banker, he worked as the Managing Director-Africa of Evrensel Capital Partners, a global merchant banking and fund management company. where he was responsible for the administration of programs, products and services of ECP in Africa , including the firm’s financial performance, portfolio quality, operations and risk management.
Mark is an avid writer and a columnist in Newspot Media House, Nigeria.
https://www.linkedin.com/in/dr-mark-g-darko-275759132/
Further Information & Resources
Article
Ghana’s parliament has passed into law the Narcotics Control Commission Bill, 2023 as a result, the Ministry of Interior has been bestowed with the responsibility of issuing licenses for the cultivation of cannabis, opening up avenues for the utilization of this versatile plant in various beneficial applications.
This milestone achievement comes after the Supreme Court intervened and declared section 43 of the law as unconstitutional, thereby hindering the smooth passage of the legislation.
Section 43 of Act 1019 previously authorized the Minister, based on the Commission’s recommendation, to grant licenses for the cultivation of cannabis, commonly known as “wee” in Ghana. However, this provision has been eliminated due to its unconstitutional nature.
On the 12th of July, 2023, Parliament took up the Narcotics Control Commission (Amendment) Bill, 2023, which consists of a single clause that, once passed, will empower the Minister to grant licenses for cannabis cultivation within the country.
With the enactment of this law, Ghana takes a significant step towards harnessing the potential benefits of cannabis cultivation. By allowing the controlled cultivation of cannabis with limited THC content, the government aims to tap into its industrial potential and explore its use in the production of fiber and seed. Moreover, the medicinal properties of cannabis can now be further explored and utilized in a regulated manner.
This legislative milestone is expected to pave the way for the development of a well-regulated cannabis industry in Ghana, ensuring that its cultivation and usage adhere to strict guidelines and quality standards.
The African Continental Free Trade Area (AfCFTA) is a free trade agreement that aims to increase trade and economic activity across Africa. It was established in 2018 and is the world’s largest free trade area by number of member states
Overview
The AfCFTA is the world’s largest free trade area bringing together the 55 countries of the African Union (AU) and eight (8) Regional Economic Communities (RECs). The overall mandate of the AfCFTA is to create a single continental market with a population of about 1.3 billion people and a combined GDP of approximately US$ 3.4 trillion. The AfCFTA is one of the flagship projects of Agenda 2063: The Africa We Want, the African Union’s long-term development strategy for transforming the continent into a global powerhouse.
As part of its mandate, the AfCFTA is to eliminate trade barriers and boost intra-Africa trade. In particular, it is to advance trade in value-added production across all service sectors of the African Economy. The AfCFTA will contribute to establishing regional value chains in Africa, enabling investment and job creation. The practical implementation of the AfCFTA has the potential to foster industrialisation, job creation, and investment, thus enhancing the competitiveness of Africa in the medium to long term.
The AfCFTA entered into force on May 30, 2019, after 24 Member States deposited their Instruments of Ratification following a series of continuous continental engagements spanning since 2012. It was launched at the 12th Extraordinary Session of the AU Assembly of Heads of State and Government in Niamey – Niger, in July 2019. The commencement of trading under the AfCFTA was in January 1, 2021. The AfCFTA Secretariat is hosted in Accra, Ghana. His Excellency Wamkele Mene is the first elected Secretary-General coordinating the implementation of the Agreement.
Narcotics Control Commission (Amendment) Bill, 2023
