
Faith Nyasuguta
Ghana is exploring cannabis cultivation and sales as a promising new avenue to boost its economy, with projections of earning $1 billion annually from the industry.
Mark Darko, CEO of the Chamber of Cannabis Industry, emphasized the financial potential of cannabis during the launch of the Chamber’s Cannabis Training Center in Accra. The center aims to equip farmers with the skills to cultivate and process cannabis sustainably. According to Darko, one hectare of cannabis can generate at least $10,000 in revenue, making the sector a game-changer for Ghana’s economy.
“This is a $50 billion industry. If Ghana can earn at least $1 billion annually from cannabis, it will reset our economy,” Darko stated, as reported by local media.

The potential benefits of cannabis go beyond revenue. Following the adoption of the Narcotics Control Commission Bill, 2023, which allows the cultivation of cannabis for industrial purposes, Darko highlighted its value in both therapeutic and industrial applications. He referenced global markets, noting that the United States generated over $11 billion in medicinal cannabis revenue in 2021, with projections to double by 2025.
Similarly, Europe, expected to become the largest medicinal cannabis market, is forecasted to reach $45 billion in five years.
The Cannabis Training Center, supported by Sky Bridge Pharmaceuticals, aims to promote ethical practices, encourage research, and foster innovation to develop cannabis-based products for global markets. Farmers and processors will gain the expertise to manage cannabis and hemp sustainably, enhancing Ghana’s competitiveness in the sector.
Sky Bridge Group CEO, Samuel Twumasi, also expressed the company’s commitment to producing world-class cannabis-based medications that meet stringent global standards. He urged the government to implement taxes and levies on cannabis cultivation permits to attract investment and regulate the industry effectively.

With the global cannabis market projected to reach $21.04 billion by 2025, Ghana’s move into this industry could provide a much-needed boost to its economy while creating jobs and fostering innovation. The government’s support will be key to ensuring the success of this emerging sector.
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