Industry eagerly awaits bold leadership to drive the market.
Under the ANC government, South Africa's cannabis policy gradually progressed towards legalisation, with a regulatory framework in place for medical cannabis and a nascent framework for hemp and industrial cannabis.
Shortly before South Africans cast their ballots, President Cyril Ramaphosa signed the Cannabis for Private Purposes Bill into law, thereby legalising the consumption of cannabis by individuals in private spaces.
While this legislative development represented a significant step forward, it notably fell short of permitting the commercial sale of cannabis, leaving the prospects for adult-use cannabis commercialisation in South Africa uncertain.
The industry eagerly awaits bold leadership to drive the legalisation and commercialisation of the adult-use cannabis market, unlocking vital economic opportunities and harnessing the potential for sustainable growth and job creation.
The legalisation and commercialisation of the market is particularly crucial for small rural farming businesses, predominantly black-owned, that remain at the periphery of the market.
These farmers face significant barriers to entry in the hemp and medical cannabis markets due to limited access to investment capital, which often favours large-scale urban operations.
As a result, many are forced to engage in illicit activities. For centuries, these farmers have cultivated cannabis, yet they remain vulnerable to criminalisation.
This story is from the June 22, 2024 edition of The Citizen.
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This story is from the June 22, 2024 edition of The Citizen.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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