Not much happens in the Kingdom of eSwatini (previously known as Swaziland), but one thing you will find, according to local, Sibusiso Xaba, is some of the best cannabis in the world. “Many families have relied on cannabis in the way of economic income for decades,” he says. “So, in many ways, my decision to come back to Africa and to go into the cannabis sector has very much been going back to my roots.”
Xaba is the co-founder and CEO of Africa Cannabis Advisory Group, an investment, advisory, research and distribution company focused on the African cannabis opportunity. Before starting the organisation, he spent eight years as an investment banker in the UK, where his primary focus was on African markets. A significant portion of his specialisation involved working with African governments, corporates, and infrastructure projects, focused on raising capital – everything from US$5 million transactions to billion-dollar deals. “We all know that Africa has many advantages when it comes to cannabis cultivation,” he says. “We have large amounts of arable land, great microclimates, affordable labour costs, and so forth. However, these advantages in and of themselves aren’t going to draw the required capital to move the needle in the African cannabis story.”