Sale of Lesotho Company Highlands Investments Spells Trouble for South Africa’s R100 billion-a-year high hope. One of Southern Africa’s largest outdoor cannabis-growing facilities, Highlands Investments, has been auctioned off for just R18.8 million (Just barely 1 million dollars) – following a merger worth a reported R560 million (~30 million dollars) in 2021 with wellness brand Goldleaf.
The sale of Highlands was a warning to others who are trying to take advantage of the medical cannabis market, noting that it is indicative of the problems with the larger industry – too much attention on cultivation and not enough on building new markets.
Former Highlands strategic adviser Tony Budden said that the current operating market is difficult to navigate, with overregulation, oversupply and risky outdoor cultivation due to cross-pollination with illicit growers, which could result in unsuitable crops for export.
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