South African government wants to grow local cannabis industry
Is SA finally going green?
Although the worldwide cannabis industry has come a long way, it is still considered taboo and frowned upon by many.
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The alleged first use of cannabis dates back to over 2500 years ago and since then it has gone from being prohibited, celebrated, legalised, and everything in between.
According to a recent Global Cannabis Market report, the global industry is valued at $20.5 billion and will reach an estimated $90.4 billion by 2026. That's in only five years!
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Now you can understand why SA is once again looking at updating a few of its weed policies.
The South African government has officially released its draft national master plan for the cannabis industry's commercialisation, both weed and hemp, in South Africa.
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The department of agriculture, land reform and rural development are looking to change legalisation by relaxing restrictions. It wants to put South Africa on the global competitive cannabis industry map by establishing itself as a major contributor. The other goals include producing more cannabis locally, as well as producing more for export purposes and investing in more industry research.
In 2018 marijuana was legalised in South Africa, but only for personal use. With these new regulations and modifications to the already existing legislation, they hope to alleviate poverty through job creation and promote rural development, which will all further contribute to greater economic development.
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According to Business Insider, the master plan includes:
- Amending existing legislation by removing existing constraints that impede commercialisation
- Implementing breeding programmes for new dagga and hemp cultivars
- Providing a framework on education and training matter in support of the cannabis industry
- Developing new local and export markets for the SA cannabis industry
and much more.
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Pro-marijuana consultancy Prohibition Partners have reported that the South African cannabis industry is already worth billions and is estimated to grow to R27-billion by 2023!
These new advancements could prove very beneficial for many individuals and businesses in the country.
You could even say it's about high time this master plan is implemented!
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Main image courtesy of iStock marijuana