SA's Legal Dagga Trade on the Rise: Farm Valued at R15m Means Smokable CBD on Its Way
- South Africa's legal marijuana trade is going to improve after a few business acquisitions have been made
- Should everything goes according to plan, "smokable CBD" will be available on shelves in retail stores
- The purpose of the CBD (Cannabidiol) is not to get the consumer high but rather to reap the benefits of medicinal properties
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One of South Africa's first legitimate producers of cannabis was estimated to be worth R15 million following an acquisition recently. The details were declared official on Wednesday.
Labat Africa, a JSE-listed holding organisation once popular for traffic solutions and enormous government contracts, said it would pay R11.25 million for a 75% stake in Leaf Botanicals.
Leaf holds a South African Health Products Regulatory Authority (SAHPRA) permit to deliver dagga for clinical use in the Northern Cape. It desires to be a huge export player around the market, according to a report by Business Insider.
Source: Getty Images
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In another report by the same publication, "Smokable CBD" will be making its way to South Africa very soon. If plans go well, marijuana that has been produced in South Africa will be on shelves in retail.
The brand is called Ace & Axel and goes for about R180 per pack in the US. This will not get consumers high because it contains mostly the cannabis flower and not the psychoactive properties found in dagga.
"The most significant benefit of smoking CBD bud is the fact that it starts taking effect almost immediately," says Ace & Axel in its marketing material.
"Smoking allows the cannabinoids to get into direct contact with the user's lungs and distribute them all over the body via the bloodstream. The only faster way to get such quick results is by taking CBD intravenously," they stated.
In other business news, Briefly News reported about the Top 10 things commonly forgotten in Ubers by users in Mzansi. In modern-day South Africa, almost everything is done digitally, from ordering food to buying household items such as furniture or television sets.
But there’s another digital advantage, the one when you just have to open a mobile phone application and book a ride either for a bus or taxi. It’s called Uber and this time around, we took a look at what are the most valuable items that are commonly forgotten by Mzansi riders.
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Source: Briefly News
