Govt Losing Billions in Tax Revenue as Illegal Cannabis Market Rivals Gauteng Tourism in Value
The illegal cannabis market, with an estimated value of around R36 billion, is about 77 times the size of the current legal market. That’s according to Euromonitor, which says a third of the illegal market could be brought into the tax net if government put the right regulations in place.
Private Cannabis Clubs Are Breaking Taboos and Developing Their Own Robust Culture
Euromonitor’s Christopher Day says that despite the lack of clear regulations, the private club movement is shaping South African cannabis culture and breaking down stigmas of social acceptability.
Courier Company Under Investigation After R21 Million Linbro Park Cannabis Bust
A well-known courier company is said to be under investigation after this week’s major cannabis bust in Linbro Park, Gauteng. JMPD officers allegedly found evidence of company’s packaging during their raid in which 52 bales of cannabis with an estimated street value of R21 million was seized.
Labat Blames Auditors for Late Financials, Gives Them the Boot as it Faces JSE Suspension
Labat has abruptly shown its external auditors the door, blaming them for its failure to submit the group’s latest financials to the JSE on time. Labat has appointed a new company to bring its books up to date as the threat of share trading suspension looms.
Let’s Talk Biofuels, Baby: Petro SA’s Green Ambitions Could Super-Charge the Industrial Cannabis Landscape
The Department of Energy and Mineral Resources is set to become a major player in the industrial cannabis sector as Petro SA incorporates hemp into its biofuels strategy. The state-owned fuel company is looking to procure huge volumes and is developing an offtake model for hemp farmers with plans to be in business by 2028.
Cilo Cybin Sets Expansion Sights Abroad, Sees No Point in Playing in SA Market Until There’s Regulatory Clarity
Cilo Cybin founder Gabriel Theron (pictured here) says he’s looking to export value added cannabis products into the Europe the UK and Israel now that the group is listed on the main bourse of the JSE. He says Cilo Cybin will sit on the local market sidelines until there’s policy clarity.
Five Sane Steps That Could Get SA Cannabis Reform Back on Track
South Africa’s cannabis regulatory tangle get worse by the day as Government dithers and the ‘Grey Zone’ expands with no mechanisms for standardization or consumer protection on the cards. Charl Botha of H3 Legal Solutions (pictured here) has written to the President and other key ministers suggesting five steps that would bring the coherence that’s so urgently needed for cannabis reform to proceed as the Presidency intended.
Agribiz Chief Economist: The Mood is Downbeat on Cannabis But ‘There Are Cycles in These Things’
Wandile Sihlobo says it’s time for more action and less talk in the cannabis industry. The chief economist for the Agricultural Business Chamber of South Africa (Agribiz) has welcomed the news that ARC is putting up a cannabis research mega-facility in Pretoria, but says the snail’s pace of legislative reform is troubling.
International CBD Pet Product Market is Going Through the Woof!
Millennials are the leading spenders on cannabis pet products, driven by their own awareness of the benefits of CBD, as well as the growing trend of owners ‘humanizing’ their pets.
Botswana Instructs Officials to ‘Be Agile and Work with Speed’ in Developing Industrial Cannabis Sector
Botswana has signed a high level MoU with Hemp Innovations Europe to develop its industrial cannabis value chain. The MoU sets out a framework for wide-ranging cooperation and government officials have been urged to implement cannabis programmes with pace and purpose.