Africa Hemp Fund Estimates $2.4 Billion Industrial Hemp Potential

Analyst estimates industrial hemp potential without CBD in Ethiopia, Uganda, Kenya, South Africa, Nigeria, Ghana, and Africa.

SEATTLE, WA, UNITED STATES, September 9, 2024 /EINPresswire.com/ -- Africa has long been known for its rich natural resources, and now the continent is poised to tap into a new industry with immense potential - industrial hemp. The Africa Hemp Fund, an organization dedicated to promoting sustainable development in Africa, has estimated that the industrial hemp market in Africa could be worth $2.4 billion.

The free report from AfricaHempFund.com on industrial hemp in Africa excludes CBD, a therapeutic drug included in most hemp studies. Industrial hemp does not contain drugs and has a wide range of uses including textiles, construction materials, and even highly nutritious food products. With its strong and durable fibers and polymer-forming oil, it has the potential to revolutionize nanomaterials, fuel and plastic. In addition, the plant is also known for its environmental benefits, as it requires less water and pesticides compared to other crops, and hemp sequesters more carbon.

The Africa Hemp Fund believes that the continent is well-positioned to become a major player in the global industrial hemp market. With its vast land and favorable climate, Africa has the potential to become a leading producer and exporter of industrial hemp. This could not only bring economic benefits to the region, but also create 180,000 job opportunities.

The Africa Hemp Fund has worked with hemp activists in Ethiopia, Ghana, South Africa and Zimbabwe. Those activists work directly with governments, local communities, and industry experts to legalize, finance and develop a sustainable and ethical industrial hemp industry in Africa. The organization is also advocating for policies and regulations that will ensuring sensible deployment with up- and downstream supply chain support.

The Africa Hemp Fund's median estimate of a $2.4 billion industrial hemp potential in Africa is based on seven different approaches including market per capita, hectares as a percentage of corn, and likely caloric contribution. The average of the seven data points for the continent is $2.2 billion. The free report includes separate estimates for Nigeria, Ethiopia, Ghana, South Africa, Kenya and Uganda.

AfricaHempFund.com was created by MSRplans, LLC to give governments, donors and investors greater visibility into the social and economic possibilities from industrial hemp in Africa. The Africa Hemp Fund is committed to hemp education, and invites all stakeholders to join in this exciting journey towards a greener and more prosperous Africa!

Michael Robbins
Africa Hemp Fund
+1 206-355-3750
msr@msrplans.com
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