Can dagga save the SA economy after lock-down? Business Day TV interviews the South African Health Products Regulatory Authority, Africannabiz and Schindlers Attorneys to ask the burning questions.
Michael Avery takes an insightful look at the current laws, CBD, business and corruption. The answers are complicated and cast a shadow of the many red-tape barriers to entry for the South African cannabis industry. While government bodies play hot potato with the issue, businesses are chaffing for the opportunity to put plants in the ground.
“Recent amendments to the Schedules to the Medicines and Related Substances Act, relating specifically to Cannabis and some of its components (cannabinoids), have thrown the budding industry into the spotlight again as the country looks for post covid growth engines. The burning question is whether cannabis will ultimately contribute to SA’s economy. By creating jobs, raising tax revenue and attracting tourists?”
“Business Day TV’s Michael Avery speaks to Momeena Omarjee, Manager: Names & Scheduling & Acting Deputy Director: Medical Devices, South African Health Products Regulatory Authority (SAHPRA); Paul-Michael Keichel, an internationally recognized and respected partner in Schindlers Attorneys cannabis practice; and Cannabis entrepreneur Pierre van der Hoven, CEO and founder of Africannabiz.”
I certainly think it can and will, looking at how the black market is growing… Monopolising the weed market will cause more harm on the rural lands that grow and supply in the black market. Over the years this market has shown there’s plenty for everyone to share when it comes to sales… I still don’t get why all the red tapes and strict regulations are for, as this is also a natural plant with more Good than Bad… Can’t say the same for the easily accessible well known drugs available for consumption
Nothing will change without a good protest
I agree on the entrepreneurial opportunities that the decriminalization will provide and I know the estimated market size was said to have reached R225 Million by 2022 (pre-Corona figures) however two aspects that i would like to address is 1) Monopolization of the industry by Big North American and Euroean conglomorates and 2) The inability to educate South Africans, especially poor communities, on the financial and helth benefits of hemp.
Plants need to be planted in as many rural areas as possible. People need to relax about the recreational /medicinal properties and focus on growth of hemp because that is where economic growth is forecasted.
Each rural family /village grows and delivers to a local co-op (much like grains are) and the co-op pays each village on tonnage. The village now has income. From there the various parts of the plant are separated and forwarded to the relevant industries they will be supporting, like paper, fillers for car doors,clothing etc as the list of natural products is as limited as imagination.
Well put:)
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I think it could, but, they need to open up the current market and not let just a few companies monopolize the industry. It will self regulate and people with integrity will prosper while fly by nights will be called out. Let the mom and pop small scale ‘farmers’ pay their taxes and let’s get on with it.
I agree… let’s get on with it.