South Africa: Cape Town Sets Aside Land to Grow Cannabis; Considers it an ‘Untapped Sector’

Must Read

Cape Town has announced that it will release vacant land for the production of medical cannabis, with the city hoping to get its foot in the door of what’s considered an ‘untapped sector’ in South Africa.

Cape Town sets aside land to grow cannabis

The set-up of the facility will bring with it an investment of R638 million in capital expenditure during the construction of phase one, the city said.

Additionally, a further R1.5 billion ($102,450,000) will be invested during phase two which is expected to commence in 2023.

The city estimates that by the end of phase two, employment opportunities for 250 individuals would have been created.

Mayoral committee member for Economic Opportunities and Asset Management, James Vos, said that the team in the city’s Enterprise and Investment Department along with Wesgro, have been pursuing and working with potential investors in this space to see how we can land their investment in Cape Town.

“Wesgro led the engagement sessions between the stakeholders (government and the private sector) to pave the way for this investment,” he said.

“As a forward-looking, globally competitive city, these are the new investment opportunities we will pursue and attract to Cape Town.

“Cape Town is known for health care excellence and for being the leader in this field as the home of the first heart transplant. With Cape Town’s proximity to excellent universities and world-class infrastructure there is much potential for research in this emerging sector.”

Vos said that this is the second facility planned for Atlantis, a similar facility for the cultivation and processing of medicinal cannabis into oils and capsules is being developed on a private farm in close proximity to the industrial area.

Related:   Central Africa: The 9 Countries in Central Africa, their Language, Capitals and Population

Other locally-based players in the industry include a manufacturer of modular cannabis cultivation kits in shipping containers in Somerset West, he said.

Uzonna Anele
Anele is a web developer and a Pan-Africanist who believes bad leadership is the only thing keeping Africa from taking its rightful place in the modern world.

Leave a Reply

Subscribe to receive email updates

With a subscription profile, you automatically receive updates without having to return to the website and check for changes

Just In

Top 20 Biggest Countries in Africa by Land Area

Africa is the second-largest continent in the world. The continent spans around 30.2 million square kilometers. That is around...

More Articles Like This