ZA: How cannabis could unlock R107 billion for ZA economy

South Africa could unlock a R107 billion cannabis industry if government passes the necessary regulations to make it happen.

The figure was put forward by international experts at a conference held in Sandton last week, as cited by the City Press.

According to the United Nations, South Africa is already the third-largest producer of marijuana and related products (hemp, oils, etc) on the African continent, producing 2,300 tons of the plant annually.

Only 3.5% of the population consume the product, the international body said, leaving the bulk of it ready for export to major cannabis consuming (and by-product) markets.

However, to do so, the South African government needs to pass the necessary laws.

Government is currently still working on regulations around the private use of cannabis, after the courts ruled that the act was protected under the constitution in September 2018.

Read more at businesstech.co.za


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