Green Gold Rush: How Morocco's Cannabis Boom is Sparking Economic Growth and Job Creation

Rabat—In a remarkable development, Morocco's cannabis industry has witnessed an unprecedented surge in licenses issued, signaling a new era of economic opportunities and job creation. The National Agency for the Regulation of Cannabis-Related Activities (ANRAC) reports that nearly 3,000 licenses have been approved since the beginning of 2024, a dramatic increase from the 609 issued throughout 2023.

The majority of these licenses, totaling 2,800, have been granted to 2,600 farmers in the northern provinces of Taounate, Chefchaouen, and Al Hoceïma. This expansion marks a significant shift from the previous year's 430 licenses, underscoring the region's growing importance in the cannabis sector. As more farmers engage in cannabis cultivation and production, these areas are experiencing a boost in local employment and income, transforming the economic landscape.

ANRAC has also greenlit 200 licenses for various cannabis-related activities involving 98 operators. This diverse group includes a pharmaceutical establishment, 23 cooperatives, 24 individuals, and 50 companies. These licenses cover a wide range of operations, including industrial applications, medical transformation, commercialization, export, seed importation, transportation, and nursery establishment.

The expansion of these activities is expected to generate substantial economic benefits, with estimates suggesting that the sector could bring in annual revenues of 4.2 to 6.3 billion dirhams by 2028, provided Morocco captures a 10-15% share of the European market.

At a recent workshop hosted by the Moroccan Federation of Pharmaceutical Industry and Innovation (FMIIP), President Mohamed El Bouhmadi highlighted the sector's potential. He emphasized that the burgeoning cannabis industry could become a cornerstone of economic growth, particularly in rural areas where traditional agriculture has been declining. The government has set an ambitious goal of cultivating 2,400 hectares of cannabis this year, with 1,700 hectares already planted and 1,500 hectares dedicated to the local Beldia cannabis variety, currently being harvested.

The Ministry of Health has also contributed to the sector's growth by issuing 19 registration certificates for various products, including dietary supplements and cosmetic items. As more products undergo review and certification, the industry is poised for further expansion, creating new market opportunities and enhancing Morocco's standing as a key player in the global cannabis market.

The rapid growth of Morocco's cannabis industry is not just about numbers; it's about people. The influx of licenses and the expansion of cultivation areas have led to a significant increase in employment, providing new livelihoods for thousands. This economic revitalization is particularly crucial for the regions of Taounate, Chefchaouen, and Al Hoceïma, where the cannabis industry is becoming a vital source of income and community development.

Do you think Morocco's cannabis industry will become a major driver of economic growth and job creation in the coming years?