Simnikiwe Hlatshaneni
Premium Journalist
3 minute read
3 Dec 2019
6:10 am

SA company clinches R600m dagga deal

Simnikiwe Hlatshaneni

The country is on the verge of a cannabis industry boom worth billions of rands, but government must first provide a legislative and regulatory framework, experts say.

Dagga. Image: ANA

The national convention on the cannabis industry at the weekend saw one South African company clinch a R600 million deal in a joint venture between two multinational firms. Cannabis is a multibillion-rand industry in South Africa, said the director of the Cannabis Expo, Silath Howarth, and this deal proved that point. Canbigold from South Africa, Koomo Capital of the US and Canngea from Australia came together to sign the ground-breaking deal in the Cannabis Convention boardroom. “For the first time, we have an alliance between three continents taking it all the way from South Africa to Australia and America,” said...