Ramaphosa Announces Cannabis Industry Reforms at SONA, Job Creation and Foreign Investment

• President Cyril Ramaphosa said that one of the government's plans for 2022 is to introduce regulations that make cannabis and hemp production and trade easier
• Ramaphosa said that the cannabis and hemp industry could create as many as 130 000 new jobs for South Africans
• The government is in the process of presenting the Cannabis for Private Purposes Bill to parliament, which provides guidelines for cannabis regulations

CAPE TOWN - During his State of the Nation Address (SONA), President Cyril Ramaphosa said that one of the government's plans for 2022 is to introduce regulations that make cannabis and hemp production and trade easier to boost the economy.

Ramaphosa said that this industry could create as many as 130 000 new jobs for South Africans. The president pointed to Lesotho's success as a trader of cannabis and hemp products. He hopes that the industry will attract foreign investors.

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Nando’s pokes fun at plans to industrialise cannabis in SA: “Quarter chicken after puff and pass”

According to News24, the international cannabis industry was valued at an estimated $7.8 billion (R117.5 billion) in 2020. The increase in revenue is expected to be about 15% annually until at least 2026.

Ramaphosa's plans for South African cannabis in 2022

“We are going to fast-track policy and regulations for the use of cannabis for medicinal use, especially in the Eastern Cape and KwaZulu-Natal," the president said.

The government is in the process of presenting the Cannabis for Private Purposes Bill to parliament, which outlines how much cannabis South Africans are allowed to have on their person in private and public places, as well as how much may be cultivated, Business Insider reports.

In addition, the proposed Bill defines what constitutes a private place. It says that if the general public cannot access a place, then it is private. This includes homes, offices, caravans, cars, boats, trucks, tents, private rooms, huts, sheds and garages.

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Reactions to Ramaphosa's cannabis and hemp announcement

@LaGiulioski said:

"It sounds like a good idea to me."

@kevright1 remarked:

"Should get the nation on a new high."

@Seikaneng932 shared:

"Aw shame, empty promises no implementation."

@SHUMBANKWALI believes:

"This will only work for well-established companies with big pockets. Setting up your premises to get regulatory certification to operate is too expensive for small cannabis dealers."

@NeoMohatlane remarked:

"I’d like to work as the potency assessor."

Nando’s plays on cannabis industrialisation: “Quarter chicken after puff & pass”

In other news about Ramaphosa's cannabis and hemp announcement, Briefly News reported that speaking at the 2022 State of the Nation Address (SONA), South Africa’s president, Cyril Ramaphosa, shared that industrial hemp and cannabis will have a pathway to industrialisation in Mzansi.

In his speech, he explained that this would be for the creation of jobs at farms in the Eastern Cape and KwaZulu-Natal, with production for several purposes. Ramaphosa backed up this announcement saying that such products have proven lucrative in neighbouring Lesotho.

Cannabis is a plant that has recreational and medicinal drug uses. Whereas hemp is a botanical class of Cannabis sativa cultivars grown specifically for industrial or medicinal use. In other parts of the world, the cannabis industry is said to have grown dramatically in recent years following legalisation and a flood of capital from venture capital firms and other investors.

Source: Briefly News