Globally the cannabis and hemp market are thriving, and African countries are significant contributors to the supply chain. According to The African Cannabis Report, global sales of cannabis-related products and cannabis could reach a total of $102 billion by 2026.
"South Africa is still in the early stages of overcoming the various legal, political, and social obstacles it takes to become a major player in the industry, but its favorable climate, loosening laws, viable farming land, and pre-existing experience in agriculture and hemp production makes it a promising contender."
"The medicinal cannabis market is particularly promising because nations around the world are beginning to legalize its use for conditions such as Alzheimer's and chronic pain."
"Germany recently became the largest and most developed market, with other European countries steadily allowing for its use to treat medical conditions. These countries have been turning to South African producers to source medical cannabis products because these must often meet the strict regulatory requirements imposed by foreign governments."
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