It seems global governments and their citizens are now starting to better understand marijuana’s value proposition: Health and wellness benefits — some of which are yet to be fully understood — along with financial and economic benefits from the taxation and regulation of business. North American industry especially is responding rapidly, scaling up its asset base, building brands and creating strategic partnerships. Africa is also awakening to the possibilities.
The team believes that Asia has the potential to be the largest regional cannabis market in the world, followed by greater Europe and North America including Mexico. They forecast Africa will be worth US$24.127-billion by that stage. Malawi is set to become the latest African country to legalise dagga farming in a bid to boost its economy. It comes as its major foreign exchange earner, tobacco, starts to see the impact of a decades-long global anti-smoking lobby. The country’s parliament has drafted a bill on legalising industrial and medicinal hemp which is expected to be tabled with the national assembly shortly.
Wandile Sihlobo, agricultural economist and head of research at Agbiz, says conditions and boundaries of what the crop could mean for the economy and industry still need to be considered and legislated. He says cannabis as an economically viable cash crop is new to everyone, and like the rest of the world, we need to clearly define the rules of the game, before entering it.We need to ask ourselves if Lesotho and Malawi are starting to issue licences, what are we missing? If the US is establishing an industry, why aren’t we? If China is making over US$1-billion a year from exporting hemp, why aren’t we looking into that?” asks Sihlobo.
The greedy ones only see big money
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Canada Canada Latest News, Canada Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
BUSINESS MAVERICK ANALYSIS: Trading on US-China deal to deliver the goodsGlobal free trade is one of those amazing benefits to global wealth. The IMF has measured a 60% reduction in prices in emerging economies since 1990 due to freer trade. But it’s disparities and contortions are also heavily criticised. Consequently, the US-China trade talks are among the most controversial issues of the day. The question is: how will completing the deal — or not completing it — affect SA?
Source: dailymaverick - 🏆 3. / 84 Read more »
Business Maverick: Debt, State Firms Are Risks to South Africa Rating, Moody’s SaysSouth Africa may struggle to hang on to its sole investment-grade credit rating if economic growth persists at weak levels and if government debt and risk from state-owned companies rises, Moody’s Investors Service said.
Source: dailymaverick - 🏆 3. / 84 Read more »
Business Maverick: Lagarde Says Global Economy Has Lost Momentum Since JanuaryGlobal growth has lost momentum since the start of the year, leaving the world economy in a “precarious” position, IMF Managing Director Christine Lagarde said.
Source: dailymaverick - 🏆 3. / 84 Read more »
Business Maverick: Wednesday, April3: Five Things You Need to Know to Start Your DayThe IMF warns about the global economy, Australia’s government delivers a pre-election cash-splash budget and May seeks to break the Brexit “logjam.” Here are some of the things people in markets are talking about.
Source: dailymaverick - 🏆 3. / 84 Read more »
BUSINESS MAVERICK: How are SA’s new stock exchanges doing?South Africa’s new stock exchanges are reporting they are making great strides in their very short history, yet an argument still exists about whether they will enhance the market or just introduce greater volatility. However, Aspen’s recent decision to have a secondary listing on A2X suggests the markets are surprisingly – or perhaps unsurprisingly – finding a niche.
Source: dailymaverick - 🏆 3. / 84 Read more »
BUSINESS MAVERICK: Financial prey for the populistsAs the global wave of cross-border banking recedes, foreign banks are becoming easy targets for populist expropriation. Yet they perform an important function in helping capital ‘flow downhill’. Scandals and populist attacks do not stop them from playing that role, argues Erik Berglöf.
Source: dailymaverick - 🏆 3. / 84 Read more »
Business Maverick Op-Ed: Chicken debate: See Brazil as ‘a partner, not an enemy’The chicken debate is becoming intense and the SA Poultry Association has lobbied the International Trade Commission of South Africa to increase import tariffs on chicken from Brazil.
Source: dailymaverick - 🏆 3. / 84 Read more »
Business Maverick: Aspen Is Said to Get Approvals for Baby-Milk Deal in WeeksAspen Pharmacare is expected to receive final approvals to complete the sale of its milk-formula business within weeks, according to people familiar with the matter, after delays to the deal wiped out more than 30 percent of the South African drugmaker’s market value.
Source: dailymaverick - 🏆 3. / 84 Read more »
Business Maverick: Africa Growth at 7-Year High, No Thanks to Its Major EconomiesGrowth in Africa’s two largest economies may be sputtering along but that won’t stop the continent’s gross domestic product from expanding at the fastest pace since at least 2012.
Source: dailymaverick - 🏆 3. / 84 Read more »
Business Maverick: MMG Joins Glencore, ERG Reviewing Congo Plans After Tax HikeYet another foreign miner in the Democratic Republic of Congo is reviewing its future production plans after the government increased taxes and removed investor safeguards despite industry protests.
Source: dailymaverick - 🏆 3. / 84 Read more »