Cape Town aims to ensure that residents score from the cannabis industry

The City of Cape Town says it will explore all avenues to ensure its residents benefit from a growing legal cannabis industry, including releasing land for its cultivation.

President Cyril Ramaphosa announced at his state of the nation address that the government will in 2020 formulate policy on the use of cannabis products for medicinal purposes and regulate the commercial use of hemp products, providing opportunities for small-scale farmers. Unlocking Cape Town’s potential in this untapped sector can drive foreign investment interest and bring in significant income, jobs and skills.

Hemp, or industrial hemp, is a strain of the cannabis plant species that is grown specifically for industrial uses. Hemp can be used for a variety of consumer products such as clothing, accessories, homeware and cosmetics. Currently, it is illegal to cultivate hemp in SA. Its production is authorised for research purposes under special conditions granted by the director-general of the National Department of Health.

Cape Town has already attracted significant investor interest-based not only on its strength in agriculture but also because it’s Africa’s leader in biotech and pharmaceutical research & development. Wesgro, one of the city’s special business partners, has also been researching to seek out investment in the cannabis sector.

African countries, including SA, Lesotho and Zimbabwe have taken steps towards legalising cannabis use, which recently approved its use for medical purposes, but recreational use is still illegal.

Originally written by Belezela Phakathi, BusinessDay

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