Morocco Considers Cannabis Legalization, Eyeing Lesotho’s Economic Success

To convince themselves of the need for such a law for the kingdom, the authorities could take a look at the case of Lesotho which, after legalizing cannabis cultivation in 2017, has become a hub for the therapeutic cannabis trade and is deriving the greatest profit from it, according to the Telquel website. To attract investors, Lesotho’s policy has been simple: grant facilities to interested companies in terms of obtaining operating licenses. With only 30,000 euros per year, a company can be authorized by the state to grow cannabis.

Morocco could draw inspiration from this positive experience of Lesotho. Better yet, by validating the legal use of cannabis, it could take advantage of its strategic geographical position with Europe to serve this large market and arouse the interest of international investors.

The global medical cannabis market could reach around $55.8 billion (about 539 billion dirhams) by 2025, according to a report by the Grand View Research firm. For the consulting firm Prohibition Partners, the European legal cannabis market, for its part, could reach 128 billion euros in 2028 (1,365 billion dirhams). These figures show that the cultivation of therapeutic cannabis is profitable and is increasingly interesting states. According to Relebohile Liphoto, Chief Operating Officer of Medigrow, a company specializing in therapeutic cannabis, the liter of cannabis oil is sold "between 5,400 and 30,000 euros".

If the legalization of cannabis were to become effective in Morocco, the medical cannabis market could reach $28 million in the first year of legalization (versus $916 million for recreational cannabis), according to the latest Prohibitions Partners report.