South Africa unveils US$1.9 billion cannabis industry plan | Financial Post

The Department of Agriculture, Land Reform and Rural Development led a two-year process to craft a national strategy for the industrialization and commercialization of the plant.

“Establishment of the cannabis industry will lead to diversification of the economy and thus increase economic growth, create jobs and for poverty alleviation,” the department said Wednesday in a presentation to lawmakers.

The plan envisages encouraging the cultivation of hemp and marijuana, with applications ranging from medicine and food to recreational use.

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