OPINION: SOUTH AFRICA RISKS LOSING FIRST-MOVER ADVANTAGE

OPINION: SOUTH AFRICA RISKS LOSING FIRST-MOVER ADVANTAGE

A global medical cannabis entrepreneur looking to enter new markets says South Africa stands to lose out on the opportunities that lie in the commercial dagga market that is rapidly growing. Kristian Usic, the CEO of Green Leaves Biomed Ltd, based in London, UK, likened South Africa’s recent move to legalise personal cannabis use to “giving everyone a free sample at a chocolate factory but forgetting to open the store”.

When asked about his impressions of Ramaphosa’s move and the new law, Usic said: “Sure, it’s a step in the right direction, but the real opportunity lies in the commercial market. “Think medical and industrial cannabis — the kind that can drive economic growth, create jobs, and put South Africa on the map as a cannabis powerhouse.

“Without clear regulations for commercial production, we might miss out on this bigger picture and end up as spectators in the global green gold rush.”

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