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Kaneh Bosm BioTechnology's plans for Lesotho pick up as it hires infrastructure and development consultancy

Lesotho became the first nation in Africa to issue licenses for medical cannabis operations
Kaneh Bosm BioTechnology's plans for Lesotho pick up as it hires infrastructure and development consultancy
Other cannabis peers have moved into Africa to do business

Kaneh Bosm BioTechnology Inc's (CSE:KBB, OTC:KNHBF) plans for Lesotho in Africa have stepped up a gear - as it hired consultancy firm Volare.

Volare will help develop Kaneh's business, along with helping to buy land earmarked for cannabis cultivation, storage and manufacturing facilities.

READ: Kaneh Bosm BioTechnology enters Danish market with Danavian deal

It has already identified key land parcels that are well suited for agriculture and manufacturing development, noted Kaneh.

Last year, Lesotho became the first nation in Africa to issue licenses for medical cannabis operations and Kaneh Bosm's portfolio company CanAfrica holds licenses for medical Cannabis cultivation, manufacturing, distribution, transport and import/export.

"Kaneh Bosm's African developments mirror industry peers such as Canopy Growth Corporation, Supreme Cannabis Company Inc. and Aphria Inc," said chief executive Eugene Beukman.

"Earlier this year, Canopy acquired Daddy Cann Lesotho PTY Ltd for $28.8mln. Daddy Cann and Kaneh Bosm's CanAfrica have been awarded identical medical cannabis licences by the Kingdom of Lesotho.

"In March of 2018, Supreme Cannabis invested $10 million for a 10 percent stake in Lesotho's MediGrow Holdings PTY Ltd."

Kaneh Bosm also highlighted Aphria Inc's (TSE:APH) recently announced a joint venture with Lesotho-based Verve Dynamics.

Verve is set to supply high-grade low-cost cannabis isolates to the African continent and, through Aphria International's distribution network, to markets across the globe.

Kaneh also noted that it continues to complement its existing African cultivation and distribution footprint.

Most recently, the company acquired South African based Aricannabis BioTech Corp, which works on an exclusive basis with NuCare Health to provide Cannabis products to over 2,800 independent and corporate pharmacies across South Africa.

South Africa has a population of 55mln people and has announced plans through the Medicines Control Counsel for medical Cannabis distribution to South African patients.

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