Farmers Review Africa March/April 2020 Farmers Review Africa March - April 2020 digital ( | Page 8

NEWS Uzenzele appointed advisors on R250m cannabis project C anna-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. - Uzenzele Holdings is a consultancy that focuses on business development and accessing governmental funding for business expansion projects. The company uses its expertise to help clients navigate the complex process of applying for government and developmental funding, helping to unlock funds and opportunities that many entrepreneurs aren’t aware of. - - 220V/Solar Powered - Turn-Key We EXPORT to ALL AFRICAN COUNTRIES [phone] [email protected] www.surehatch.co.za 6 | March - April 2020 Nadia Rawjee and Zahra Rawjee