Is Cannabis Africa’s Green Gold?

Demand for CBD is growing all over the world and already CBD oil and recreational cannabis is legal for personal use in South Africa. Perfect climates, an advanced agricultural sector and a promising enabling environment add up to make the cultivation of hemp for CBD a promising prospect for investors with an eye on this exciting growth sector. John Kagia of the US consulting firm New Frontier Data, predicts that countries in Southern Africa could become world leaders in the production of cannabis. He goes on to say, “Africa and parts of Latin America are uniquely well positioned to supply the world with cannabis. African farmers have cultivated the plants for centuries.” In addition, Kagia points to low cost of labour in the area. “And there are rules to ensure that hemp meets global standards,” he adds. With South Africa’s unemployment rate at an all-time high, this gamechanger industry could be well worth its weight in green gold.