As the South African economy reels from the economic lockdown that has hit many industries hard, the KwaZulu-Natal Department of Economic Development, Tourism and Environmental Affairs was investing in the cannabis industry.
Representatives of the industry have said that the easing of regulations around cannabis will help tackle problems such as hunger and Covid-19.
EDTEA MEC, Nomusa Dube-Ncube, said the department’s Moses Kotane Institute of Technology had a Cannabis Unit which dealt with investment into developing the industry.
So far the department has allocated about R10 million for this purpose. “Through Moses Kotane, we have signed an MoU with CSIR (Council for Scientific and Industrial Research) which will assist in conducting of financial and due diligence on facilities that require commercialisation of Hemp. This agreement is specifically crafted to deal with matters of agro-processing, pharmaceuticals/nutraceuticals and laboratory facilities,” she said.
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