Belinda Scriba, Director, and Claudia Grobler, Associate, in the Dispute Resolution practice and members of the Agriculture, Aquaculture & Fishing sector, were recently featured in the Sunday Times Agriculture Magazine, where they explored South Africa’s current status on the commercialisation of cannabis, especially in light of the publication of long-awaited Regulations.
Belinda and Claudia noted that South Africa stands at a pivotal crossroads in its relationship with cannabis, a plant that has long been intertwined with the country’s social, cultural, and economic landscape. With the global cannabis economy projected to exceed $100 billion by 2030, they argue that the key question is no longer whether South Africa should participate in cannabis commercialisation, but how it can do so in a manner that is legally sound, economically empowering, and socially sustainable, considering the new Regulations.
They also highlighted the significant domestic opportunities within the sector. According to the Department of Trade, Industry and Competition (DTIC), South Africa’s cannabis and hemp industry is already estimated to be worth R14 billion, with government targeting annual growth of 10% from this base. The formal cannabis industry alone currently generates approximately R5.5 billion in annual revenue and can no longer be ignored, and opportunities need to be responsibly harvested.
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