Schewitz says he decided to start Goodleaf after hearing about the budding cannabis industry through a friend in Canada, which was the first country to legalise dagga for medical use, in 1999. Canada has also legalised its, which is expected to double revenues this year and grow by more than 500% by 2025.
“You know, when I saw what was happening in more mature markets, I thought it was inevitable that it would come to Africa and South Africa. And [for] me, as a proud South African — Africa really is the home of cannabis. So what better place to start a cannabis company than in South Africa?” Since then, the industry has undergone major changes. The global medical cannabis industry is expected to generate $82.9-billion by 2027 and the International Monetary Fund has said cannabis is the 59th-largest economy in the world.
Previously, Goodleaf sourced much of its supply from outside the continent. But it is important that all manufacturing is conducted in South Africa, Schewitz says. “It is key to our ethos to try to drive as much activity and investment in the sector and as we can.”