When you think of the international cannabis market, Israel and Spain would probably jump to the top of list. A growing market that has been quietly sporting under the radar is Africa. The worlds second largest continent has the ability to become one of the biggest cannabis markets.
According to a report from Prohibiton Partners says that Africa overall could generate over $7 billion in revenue thanks to cannabis.
The UN estimates more than 38,000 tons of cannabis are produced across Africa each year, which results in a black market worth billions.
As of right now, only Lesotho and South Africa permit medical use, while Zimbabwe has legislation allowing medical marijuana that has not been enacted.
The potential for growth on the continent is strong. Read more about the potential here.