Morocco Could Reap $10 Billion from Legal Cannabis Market by 2023, Report Says

If the African cannabis market is legalized, its global value could be estimated at $7.1 billion starting in 2023. A potential shared by seven African countries, including Morocco, South Africa, Lesotho, Nigeria, Malawi, Ghana and Zambia.

According to Al Massae, which cites the report, cannabis remains easily accessible in Morocco, even though it evolves in an informal framework, adding that in 2017, 80% of the cannabis produced locally was exported and only 20% used for local consumption.

The leading producer in Africa, Morocco has 1.5 million cannabis consumers, mainly adolescents and young people. Despite its prohibition, cannabis represents the main source of income for 90 to 140,000 families, knowing that its average price is estimated at $8 per kilo for raw cannabis.