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That in mind, Hintz said the $165 million in potential revenue is nothing to sneeze at, but he doesn’t think that’s the reason state lawmakers should pass legislation in favor of adult-use cannabis. In Evers’ budget proposal, he said legalizing adult-use cannabis is expected to generate more than $165 million annually in the state, beginning in the second year of the biennium. That extra revenue would hold extra weight if Wisconsin were in fiscal distress—it’s not. According to the MacIver Institute, a Wisconsin-based conservative think tank, the state’s general fund balance was roughly $1.2 billion in October 2020, which represented the largest year-end balance Wisconsin had seen in the past two decades. “I don’t know that I see it passing,” said Hintz, a Democrat who represents an urban district that encompasses Oshkosh. I know that I’ve talked to some of my Republican colleagues, both some who are more libertarian in nature, some who just recognize the benefits of medicinal marijuana, and certainly see and hear the public support.
However, with much research into CBD’s impact on health still in its early stages, Nikstele stressed it is important not to get carried away. “CBD has been shown to help tackle a range of health issues such as anxiety and it provides a welcome natural basis to a new range of cosmetic products,” Nikstele told this publication. It is one of some 114 identified cannabinoids in cannabis plants and accounts for up to 40% of the plant’s extract. CBD is typically found in the form of an oil but there is alsowater-soluble CBD which can be used to produce CBD infused drinks. Using proprietary, state-of-the-art technology, CBD particles are broken down into tiny nanoparticles that are so small they can eventually infuse into water or other liquids.
“A large number of challenges remain for businesses to satisfy standards in intra-African trade, including labelling issues that raise compliance costs, and that these challenges are greatest among Africa’s MSMEs,” said Tulo Makwati, Coordinator of the SADC Business Council. Djibouti is capitalizing on its strategic location on one of the world’s busiest trade routes to build Africa’s largest free trade zone area. The Horn of Africa nation controls the Bab el-Mandeb (“Gate of Tears” in Arabic) which is a crucial chokepoint at the entrance to the Red Sea and the Suez Canal from the Indian Ocean. The Bab el-Mandeb is the world’s fourth most frequented maritime route used by some 30,000 ships every year. Also, after the Ethiopia-Eritrea war, Djibouti has become a gateway for 90% of Ethiopia’s imports, a trading volume that accounts for 90% of Djibouti’s port traffic. The $3.5-billion China-backed initiative will span 4,800 hectares when completed and it will become the biggest free trade zone area on the continent.
“That’s a massive retailer repurposing some of their existing real estate into something that is hyper productive from a revenue standpoint,” he says. (Last year, Couche-Tard pulled in $54 billion in revenue.) It also provides an opportunity for Fire & Flower to flex its data-driven inventory management muscles, with only 600 square feet in those retail locations to provide the focused suite of SKUs that the company knows will move fast. The strategic agreement offers a path forward for Fire & Flower in California, Arizona and Nevada by getting the brand in front of U.S. consumers. Once a company selects its choice color and unit quantity, the packs are available for collection or dispatch in just two to three business days and fit directly into a company’s existing packaging process.
These stringent requirements are essential as CBD becomes more mainstream, attracting a new wave of entrants. Large national retailers are actively looking to add quality CBD products to their shelves, but these distributors have stringent requirements. Smaller cannabis producers and new brands with limited resources lack the resources to provide such high-quality products. That demand has only increased in the past year, with the COVID-19 epidemic fueling online sales. In fact, one study reported that every dollar spent on email marketing in the CBD industry resulted in almost$40 in revenue.
The government has to move fast in addressing this challenge,” said Peter Gikonyo, the association’s chairperson. As the economic fallout from the Covid-19 pandemic makes its presence felt across sub-Saharan Africa, all eyes are on the next policy moves governments will make to resuscitate growth. Now, with the IMF forecasting that the volume of goods and services trade will shrink by 12% in 2020, it is clear that fragmentation is something Africa can ill afford. Encouraging intra-African trade and getting AfCFTA back on track have become a matter of urgency. Several hurdles still lie in the way of the effective implementation of AfCFTA, over and above that 24 AU member states and signatories have yet to ratify the agreement. Manufacturers are worried of being stuck with stockpile of personal protection equipment and other Covid-19 kits after the government slowed orders amid ongoing probe at the Kenya Medical Supplies Authority .
However, recently released trade statistics across the world reveal that those forecasts may have been overly pessimistic and underestimated the relative resilience of the global trading system. In summary, despite the depth of the economic crisis precipitated by the COVID-19 pandemic, since May 2020 intra-regional trade in East Africa has shown significant resilience with a notable positive correlation with measures put in place to protect transport corridors from severe disruptions. While South Africa’s trade surplus increased in August, concerns of a second wave of Covid-19 infections could see countries implement restrictions again with consequences for international trade, an economist warned. The South African Revenue Service on Wednesday released trade statistics for August. It showed that the trade surplus increased to R38.9 billion, slightly up from the R37.2 billion reported in July.
This growing acceptance of cannabis, and specifically CBD, isn’t likely to slow and has sparked the explosion of new CBD-infused products and brands within the consumer-packaged goods space. Industry leaders in this explosive growth market are positioned for exponential growth. WTER’s where to buy cbd oil in kansas city missouri consistency and commitment to quality, along with its unique variable-cost business model and growing portfolio, certainly bode well for the company, making it a strong candidate for a savvy beverage or cannabis brand looking to strengthen its position in the growing sectors.
The proceeds from trade underinvoicing and other illicit financial flows contribute to an average of $88.6 billion per year of capital flight from Africa, which is wealth sent and held abroad. Formulating effective policies to combat illicit behaviour requires effective analytical tools. But this is often complicated by a lack of reliable data, since illicit activities are inherently clandestine.
The EAC Banking Certification Policy and its implementation strategy and road map is among the key document endorsed. Also approved are the draft EAC Microfinance Service Policy and the draft EAC Insurance Bill. “Flattening the Covid-19 curve is a national endeavour that requires action at the individual, community, county, and national levels. Every one of us must play our part for Kenya to triumph over the disease,” said Kenya’s Head of Public Service, Joseph Kinyua, in a statement to the media last week. Speaking at a high-level event on financing for development in the era of COVID-19 and beyond, António Guterres said that while countries reacted swiftly to the global crisis, mobilizing a fiscal response of more than $11.5 trillion globally, only a fraction was accounted for by developing and emerging economies. Economies “which have the greatest need, least resources and weakest capacities for addressing the crisis,” he highlighted.
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Its decentralized e-commerce approach continues to disrupt Amazon’s centralized platform, and it could have plenty of room to grow over the long term as more offline merchants bring their businesses online. The stock has risen more than 30% this year, even as concerns about slower online spending in a post-pandemic market battered other e-commerce stocks — and investors continue to pay a premium for Shopify’s growth at over 40 times this year’s sales. That transition accelerated throughout the pandemic last year as more businesses opened online stores. As a result, Baidu’s stock price has declined about 40% over the past six months and has stayed roughly flat over the past five years. That dismal return indicates high-growth multibagger stocks like Baidu can lose their momentum as their core markets mature, new competitors enter the market, and government regulators change the rules of the game.
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Initial focus is on Zambia, a well land-linked State with eight neighbouring countries. An Inter-Agency Technical Coordination Committee is being set up for the Chirundu OSBP to come up with recommendations on how to address operational challenges at the border during the COVID-19 pandemic and after. The newly appointed Director-General and Chief Executive of the Standards Organisation of Nigeria, Farouk Salim has stated that efforts would be geared towards reducing red tapes and stimulating the production of quality goods locally for self-sufficiency. “The LCCI would advise the need to strengthen collaboration with critical stakeholders including the private sector to ensure that he achieves the objectives of the organisation. Synergy and collaboration are very key in getting intelligence, information, collaboration and also in the area of logistics.
The former Nigerian finance minister joins South Korea’s Yoo Myung-hee in the last stage, assuring that the next director-general will be a woman. Zimbabwe has laid out plans to fully utilise existing capacity and build new infrastructure to position itself as a regional hub for fuel distribution using its strategic location in the region and extensive storage facilities. The new planned pipeline will have capacity to transport 50 million litres per day, which will afford the country an opportunity to fully utilise its storage capacity of 500 million litres for local and regional purposes. The Nigerian government is working toward establishing special economic zones for solid minerals and creating a large number of employment opportunities, a top official with the Nigeria Export Processing Zones Authority said. The initiative is part of the government’s promise to revamp the mining sector to enable it to contribute more to national income, said Adesoji Adesugba, Managing Director of NEPZA in a statement reaching Xinhua on Thursday.
Advancements in the technology for the microencapsulation of useful industrial hemp components, like cannabidiol, drive higher cannabinoid bioavailability for users. This means users can obtain more advantages and effects with fewer quantities of cannabinoid products, thereby saving their time and funds. While it may be a niche in this industry, modern technology impacts how several compounds are taken out from industrial hemp. The word ‘extraction’ here, refers to the procedure of separating certain useless hemp-based things from the necessary plant compounds like cannabinoids, flavonoids, and terpenes. According to the research firm Brightfield Group, the CBD sector is likely to be worth $22 billion in two years. This is especially the case, with technology contributing to many different phases of CBD production.
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“The PMI indicated further improvement in business confidence and operating conditions this month, thanks in large part to the lifting of some domestic Covid-19 containment measures,” Stanbic Bank head of Africa research Jibran Qureishi said in the PMI report. The Covid-19 pandemic crisis has worsened the vulnerabilities caused by the excessive reliance of African economies on world markets. Africa’s main trade partners include the European Union, China, the United States and United Kingdom. Africa’s dependence on external markets for medicinal and pharmaceutical products is particularly acute – Africa imports more than 95% of these products from outside the continent. As the continent’s main trade partners have been severely hit by the Covid-19 pandemic, Africa has suffered significant business disruptions and output contraction, including in export sectors. Tanzania’s economy continued to perform satisfactorily despite spillover effects from the global economy due to the COVID-19 pandemic, the central bank said on Tuesday.
Nigeria’s real GDP contracted by 6.1 percent year-on-year in the second quarter of 2020 – the worst result in more than a decade. South Africa, operating under severe containment measures, saw its real GDP contract by 17.1 percent year-on-year in the second quarter of 2020. Angola, Sub-Saharan Africa’s second largest oil producer after Nigeria, saw its economy contract by 1.8 percent year-on-year in the first quarter of 2020. East African Community partner states are losing out billions of dollars by inadequately investing in adding value to horticulture and leather goods produced in the region and not addressing bottlenecks derailing growth in the sectors, a new report shows. The report by the East African Business Council in collaboration with GIZ is titled, ‘Building the Leather, Fruits and Vegetable value chains in the East African Community’ was launched Thursday, October 8.
With a trillion-dollar industry projection providing incentive, WTER isn’t the only CBD company to strategically evaluate — and seize — the opportunities. So as a general rule, these companies have matured, they’ve deepened their offering, they’ve constructed more definable positions. Tencent and Alibaba look to spread into banking and commerce and then probably everything. Tesla wants not to make electric cars, but to accelerate the planet’s move to sustainable energy. Physical retailers need to be able to make money online, which is pretty much impossible given the way they’ve built around the main street.
While performance has been mixed, at times, the speed was slow, there is hope that intra-SADC trade would grow and that Member States needed to improve their competitiveness by addressing the supply-side constraints, including strengthening cooperation in cross-border infrastructure, she said. Notwithstanding having a Free Trade Area, we realized that we need to enhance our competitiveness and productive capacities to utilize the free market which we have established,” she said. The head of South Africa’s tax authority has warned that it may take years to dismantle the criminal networks that have flourished during the alcohol and tobacco ban implemented as part of the country’s response to coronavirus. SARS Commissioner Edward Kieswetter said that the ban – which was established as part of the government’s wider Covid-19 strategy – has allowed illegal operators to infiltrate the market, marketing counterfeit products to unwitting customers. The ban has been compared to the US government’s attempt to introduce prohibition in the 1920s; that policy backfired spectacularly, ushering in a lucrative bootlegging industry and empowering the country’s criminal networks. Participants in the structured discussions on investment facilitation for development began on 25 September 2020 formal negotiations on a multilateral agreement on this issue, with a view to achieving a concrete outcome by the 12th WTO Ministerial Conference scheduled for next year.
Health State Minister Sahrela Abdullahi stated that due to the high demand created by COVID-19, many textile companies are switching to the production of surgical face masks thereby contributing share in the import- substitution strategy. “We have witnessed huge consumption of surgical face masks at the centers,” she said, adding that that local firms’ investment in this sector will have paramount importance to supply quality products and ease the shortage. The government has disbursed substantial amount of hard currency to the purchase of COVID-19 preventive items including personal protective equipment , oxygen tanks, beds and ventilators and it encourages private sector’s involvement in the production of medical equipment. “Ultimately, the CGCSA is advocating for legislation to make it possible for surplus food, which is still safe for human consumption, to be donated to the needy as part of national goals to avert food insecurity in SA,” he said. “We appreciate the willingness of these companies, both manufacturers and retailers, to partner with government in ensuring food waste is reduced, with the aim to eliminate food waste in the near future.
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Compared to end-2019, average 2021 debt ratios are projected to rise by 20 percent of GDP in advanced economies, 10 percent of GDP in emerging market economies, and about 7 percent in low-income-countries. While many advanced economies still have the capacity to borrow, emerging markets and low-income countries face much tighter limits on their ability to carry additional debt. President Uhuru Kenyatta has reiterated that Africa’s biggest asset is the potential held by its youthful population and not its natural resources. “I tell people all the time, we look at the African continent sometimes from a perspective of its natural wealth. The gold, the diamonds, the oil, the gas but what we tend not to see is what is the true African potential. “And the true African potential is our young men and women, and their capacity to participate with you to build a greater and better world for all of us,” President Kenyatta said.
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Kampala has filed a complaint with the EAC Council of Ministers, accusing Tanzania of breaching the Common Market Protocol by imposing different road user charges to partner states in the same trading bloc. Escalation of the dispute could hit over $171 million worth of trade between the two East African neighbours, and inflict more damage on the fragile regional integration process. The results of the Quarterly Labour Force Survey for the second quarter of 2020 look bleak to say the least. The report indicated that the number of employed persons decreased by 2.2 million to 14.1 million compared to the first quarter of 2020. According to Stats SA, industries across the country suffered significant rates of unemployment. After last week’s maiden tour of Tanzania, where Burundi’s President Evariste Ndayishimiye met Tanzanian President John Magufuli in Kigoma, the two countries agreed to build a railway to transport minerals from Gitega.
Zimbabwe has yet to accept the Protocol amending the TRIPS Agreement to provide additional flexibilities to grant special compulsory licences for exports of medicines. However, in 2015 Zimbabwe made trading across borders more difficult by introducing a mandatory pre-shipment conformity assessment programme, which was notified to the TBT Committee. The scheme covers a range of products (12% of tariff lines at HS 8-digit level), subject to the payment of high and complex ad valorem fees. Zimbabwe’s simple average applied MFN tariff increased from 15.4% at the time of its last Review in 2011 to 15.8% in 2019. The applied rates exceed the corresponding bound levels on 61 tariff lines; another 64 lines carry non-ad valorem rates that could potentially exceed their ad valorem bindings if the import prices of the products concerned were to fall.
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Sectoral reallocation policies, to foster the shift from exporting raw materials to greater value addition and intra-Africa value chains. As global trade takes time to recover, policymakers in the region need to promote the development of regional value chains while they are building the foundations and capabilities needed for more comprehensive continental involvement. The African Continental Free Trade Area has an important role to play by reducing production costs associated to tariffs, non-tariff barriers and trade facilitation problems.
This borders on the rules of origin, the regional list for the market access offer as a customs union and building the productive capacities of the various stakeholders. President John Magufuli has welcomed the opening of a new chapter for trade relations between Tanzania and Malawi. Dr Magufuli was optimistic over a brighter future, particularly rising trade volume between the two nations following successful talks on a number of issues meant to facilitate trade flow between Dar es Salaam and Lilongwe. Among other trade facilitations, Dr Magufuli said they have agreed to establish One-Stop-Border Post to allow ease movement of people, goods and services between the two nations.
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Well, there’s a general misconception among people when it comes to hemp legality in India. Insys Therapeutics, Inc., is a specialty pharmaceutical company, develops and commercializes supportive care products. In addition, the company is developing Cannabidiol Oral Solution for the treatment of prader willi. CBD oil is a derivative of the cannabis plant that’s rich in chemical compounds called cannabinoids. Cannabidiol and cannabidiolic acid are both well-known and abundant chemical compounds native to the cannabis and hemp plant.
President Cyril Ramaphosa has highlighted access to agricultural land for subsistence farming and commercial production as a national priority, stating that the transformation of patterns of ownership “are fundamental in addressing not only food security, but also historical injustices”. Owing to the impact of the Covid-19 pandemic, South Africa’s economy suffered a significant contraction during April, May and June, with gross domestic product having fallen by 16% between the first and second quarters. However, while nearly all other sectors of the economy registered significant drops in output, Ramaphosa said “agriculture bucked the trend”, noting that there had been an increase in maize exports and rising international demand for citrus fruit and pecan nuts, helping the industry grow by 15.1%. AFP via Getty Images Despite the disruption Covid-19 has caused across many sectors of the economy, Europe’s burgeoning cannabis industry has continued to make gains. As medical cannabis, consumer CBD and even adult-use markets have continued to develop, so has the pace of investment activity in this nascent industry.
As Nigeria lifts its COVID-19 lockdowns, the government is facing the knock-on consequences of the response. “The restriction in movement created a lot of issues, particularly for a lot of daily wage earners and those who live from hand to mouth,” Dr. Osagie Ehanire, Nigeria’s minister of health, said at the World Economic Forum’s Sustainable Development Impact Summit. As countries reopen, governments have another opportunity to weigh the health and economic impacts of every decision and develop a response that makes sense for their contexts. Preparatory work for launch of a Corridor Trip Monitoring System pilot project are an advanced stage. The CTMS is an initiative of the tripartite regional blocs; COMESA, EAC and SADC on trade and transport facilitation. Piloting of this project is planned for sections of the North-South and Walvis Bay-Ndola-Lubumbashi Corridors .
Due to the coronavirus pandemic, German imports from Africa fell sharply to 10.4 billion euro ($12.1) from January to July 2020, according to Germany’s Federal Statistical Office. That’s a decline of nearly 3.6 billion euro, or 26%, compared to the same period in 2019. They fell by around 2.6 billion euro, or 18%, to around 11.6 billion euro from January to July 2020 compared to the same period last year. We have seen, time and time again, that its impacts take no notice of national borders. Ahead of COP26, we are urging all countries to come forward with adaptation plans, and ambitious NDCs. Developed countries like the UK have a responsibility, to support others around the world, just as they pursue adaptation and mitigation at home.
The boom in the CBD sector has spurred an influx of technology in using new and advanced technologies when cultivating the plants. Scientists have come up with revolutionary biotechnologies which make sure that cannabis plants grow fast and effectively. Assaf predicts that novelty CBD products will fall away in favor of those with strong science behind them. “There’s less cbd cream for surgical pain space for filler products that don’t really have a reason to be,” she says. In the early days of 2020, CBD brands were expecting new FDA regulations for the industry, which would help to create standards around testing and product quality. Insiders hope that more regulation will create a greater degree of legitimacy around the ingredient and trust among consumers.
The increase in exports is in line with improvements in global demand, noted Investec economist Lara Hodes. “Specifically, the implementation of renewed restrictions in certain countries to try and curb second waves of Covid-19 infections would impede the pace of global recovery and thus international trade,” Hodes said. The multi-billion-dollar trade in second-hand clothing helps prevent the global fashion industry’s growing pile of waste going straight to landfill, while keeping wardrobes clear for next season’s designs. Exporters are struggling, as are traders and customers in often poorer nations from Africa to Eastern Europe and Latin America who rely on a steady supply of used clothes.
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This chapter aims to dissect the nature of the economic crisis in the first seven months of the pandemic. It finds that the adoption of lockdowns was an important factor in the recession, but voluntary social distancing in response to rising infections also contributed very substantially to the economic contraction. Therefore, although easing lockdowns can lead to a partial recovery, economic activity is likely to remain subdued until health risks abate. “A global pandemic is no time for business-as-usual, and there is no place for patents or corporate profiteering as long as the world if cbd gummies doesnt get you high then why buy it is faced with the threat of COVID-19,” said Leena Menghaney, South Asia Head of MSF’s Access Campaign. “With this bold action, India and South Africa have shown that governments want to be back in the driver’s seat when it comes to ensuring all people can have access to needed COVID-19 medical products, medicines and vaccines, so that more lives can be saved,” said Menghaney. Amid the significant economic declines, the analysis recommends governments look to policies African countries need to move toward productivity-driven growth, and create more, better and inclusive jobs.
Zimbabwe is endowed with more than 40 mineral and metal resources, including gold, platinum group metals, diamonds, nickel, coal, and chromite. A “beneficiation” policy to encourage local downstream processing is enforced through export taxes on “un-beneficiated” platinum group metals, diamonds and lithium. Zimbabwe’s non-automatic licensing regime for exports covers a wide range of products, including most agricultural commodities. As in the case of import licensing, compulsory export licences are intended to ensure that enough quantities of produce are available domestically.
The continent must stridently carve out a bold path as a climate change leader – proactively developing a completely novel, a priori approach to building sustainable and resilient eco-aligned societies. Doing so offers Africa’s nations and their international partners the opportunity to rethink effective approaches to driving economic growth. Reimagining how we power, transport and manufacture economies harbors the potential to earn Africa quite a lot of money, innovation and geopolitical influence. As many small and medium-sized enterprises worldwide have been hit hard by the COVID-19 pandemic, fintech is expected to provide them opportunities to shake off the negative impact and thus inject new momentum into the global economic recovery. Although the world economy remains shrouded in the gloomy shadow of the coronavirus, the financial inclusion and technological innovation brought by China’s fintech industry have offered a silver lining.
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AMSP aims at operationalizing and fostering the primary objectives of the AfCFTA-anchored Pharmaceutical Initiative of ensuring access to safe and affordable quality medicines in Africa, through pooled procurement and capacitating local production for improved health outcomes. The projects will boost investment and improve security in eastern Congo, the statement said. Kenyans will continue enjoying the current tax relief extended by the government to cushion households and businesses against the Covid-19 pandemic for another three months. But, some other tax reductions will be in place for much longer as they will lapse in July next year to coincide with the end of the government’s financial year.
This is characterized by China becoming Africa’s major trading partner with bilateral trade at $185 billion USD and a major negative trade impact. President Cyril Ramaphosa has thrown his weight behind the empowering of women in Africa by giving them enabling tools to build themselves a financially secure and independent future. President Ramaphosa was speaking during a high-level virtual panel, G7 Partnership for African Women’s Financial Inclusion on Wednesday. “We must enable women to take advantage of the technological advances to start their own businesses, to trade and to seek employment,” President Ramaphosa said. “We believe that a digitally enabled economy with a strong emphasises on gender equality has the potential to be transformative, fair, sustainable and competitive,” he added. The G20 leaders summit will be held virtually on Nov. 21-22, Saudi Arabia said on Monday, as the COVID-19 pandemic thwarted Riyadh’s hopes of hosting the gathering in the kingdom to boost its international standing.
A new report titled “The European Cannabis Investment Ecosystem” lifts the lid on investment and deals activity across the continent, revealing an exciting and innovative sector that’s rapidly gaining pace. The report finds that investment into the European cannabis sector has reached an estimated €1.2 billion as of June 2021, with over 50% of publicly recorded deals flowing into healthcare segments and another 40% into wellness opportunities. Investments cover the breadth of the cannabis supply chain; a quarter of reported deals were found to fund formulation and manufacture activities, 17% to fund cultivation and processing, and a further 16% into both brand assets and R&D.