26 Jan 2025

The inaugural Hemp Business Summit, scheduled for April 5, aims to explore the US$ 400 billion industrial hemp industry and its value chain, attracting local stakeholders interested in the market.

The summit, set to accommodate around 300 delegates, will feature key players from the United States, representatives and policy makers from government and farmers associations, at Ba Isago Convention Centre in Gaborone is themed: Unlocking the Hemp Industry in Botswana”.

Mr Oratile Masala, CEO of IHBS and co-founder of the Hemp Business Summit, told BOPA that the summit’s goal was to gather diverse stakeholders who were interested in the hemp industry and to discuss necessary policy reforms for its sustainable development.

Representatives from NUTIVA, a United States-based company that processes and imports hemp products, will join the summit.

With a product range that includes hemp protein powder, shelled hemp seeds, and hemp seed oil, their participation is expected to facilitate discussions with local farmers and aspiring industry entrants.

Mr Masala said successful farmers from other countries were expected to share their experiences and guide local hemp growers through the comprehensive process of establishing themselves in the industry.

He noted that conversations with the Local Enterprise Authority (LEA) were underway regarding establishment of a hemp incubator to support SMEs. This initiative would focus on training and imparting best practices in hemp farming within the Botswana context, he said.

Mr Masala mentioned that local banks and insurance companies were invited to create financial products targeted at the hemp sector, stating that some banks were reportedly ahead of the curve, and the summit would provide a platform for them to present these products.

Mr Masala pointed out that despite the growing global demand for hemp products, Botswana has lagged behind its southern African neighbours in capitalising on the opportunities within this sector.

He cited Lesotho’s successful hemp cultivation, yielding impressive amounts of CBD oil, seeds, and crude oil, and Zimbabwe’s recent foray into hemp production.

As the global market for hemp continues to expand, Mr Masala stressed that it was imperative for Botswana to embrace these opportunities to bolster its economic development. ENDS