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Toke it to the bank: Cape set to score from cannabis industry


Toke it to the bank: Cape set to score from cannabis industry

The city has already released land for purchase by the private sector for the production of medical cannabis

Bekezela Phakathi

The City of Cape Town says it will explore all avenues to ensure its residents benefit from a growing legal cannabis industry, including releasing land for its cultivation.

In his State of the Nation address last week, President Cyril Ramaphosa announced that the government will in 2020 formulate policy on the use of cannabis products for medicinal purposes, and open up and regulate the commercial use of hemp products, providing opportunities for small-scale farmers.

Hemp, or industrial hemp, is a strain of the cannabis plant species that is grown specifically for industrial uses. Hemp typically has lower concentrations of tetrahydrocannabinol (THC), the psychoactive component of cannabis...

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