Jamaica’s medical cannabis company Medicanja has received a US $15 million investment from the United States of US-based Noble Capital Fund.
The investment is expected to generate more than 200 agricultural jobs primarily in St. Catherine and Westmoreland.
Minister of Investment, Audley Shaw is expecting US $10 million from Medicanja exports annually with this investment.
The announcement was made at a press conference at Jamaica Promotions Corporation last week.
The initial US $15 million investment in Medicanja is part of an expected US $100 million that Noble Capital Fund will be pumping in several Jamaican entities within the next three years.
Noble Capital Fund has already invested in several local companies since 2018.
Minister Shaw has also stated that the government is working to correct the issues that the medical cannabis industry in Jamaica is currently facing, chief of which is US banking regulations.