Keep track on the future of the country’s cannabis industry
09 Sep 2021
On 26 August 2021, South African government unveiled its master plan for the future of the country’s cannabis industry, following two years of discussion, research and strategy crafting.
Legalised in South Africa in 2018 and with a global industry valued at around $20bn — estimated to reach around $90bn by 2026 — the cultivation of cannabis for commercial purposes has become a priority in our country. Having monitored other countries with burgeoning cannabis industries, South Africa’s master plan incorporates lessons learned and research findings from these sources. To this end, R28bn has been set aside for this plan and, while it will serve to signal the country’s intent and attract foreign investment, it will also create a wealth of jobs — between 10,000 and 25,000 — while also helping to develop the small- to medium-sized businesses involved.
The plan highlights the challenges which lie ahead — issues relating to energy usage and social acceptance, as well as the logistics and funding required to create the infrastructure necessary to achieve the kinds of outputs required.
Existing in a grey area for a long time, cannabis has shifted into the spotlight with laws being shaped to accommodate its upward trajectory. As government works on various bills to regulate how citizens possess, cultivate and make use of cannabis, keeping up to date and tracking these developments becomes difficult.
With Sabinet’s Customised Monitoring Services (CMS), our experts consult professional sources, monitor developments as they occur, and then share meaningful summaries directly with subscribers. As a single, consolidated source of information, Sabinet CMS’ customisable email reports act as an early-warning system for subscribers. By selecting cannabis as a single-topic CMS, subscribers can be kept abreast of any important legislative and policy developments, equipping themselves with the tools necessary to make important decisions for their businesses.
See also:(This article is provided for informational purposes only and not for the purpose of providing legal advice. For more information on the topic, please contact the author/s or the relevant provider.)