R600m Cannabis deal hits South Africa
The country is on the verge of a cannabis industry boom worth billions of rands, but government must first provide a legislative and regulatory framework, experts say.
The national convention on the cannabis industry at the weekend saw one South African company clinch a R600 million deal in a joint venture between two multinational firms. Cannabis is a multibillion-rand industry in South Africa, said the director of the Cannabis Expo, Silath Howarth, and this deal proved that point. Canbigold from South Africa, Koomo Capital of the US and Canngea from Australia came together to sign the ground-breaking deal in the Cannabis Convention boardroom. “For the first time, we have an alliance between three continents taking it all the way from South Africa to Australia and America,”
This is the largest investment recorded by Greenrush SA for the local cannabis industry in 2019, which makes one wonder, where to from here?
Many new developments are taking place on a daily bases. We continue to see the massive change within the local and international industries.
The Greenrush is on!
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