KwaZulu-Natal Boosts Hemp To Revitalize Economy

1.7 min readPublished On: December 11th, 2023By

WORLD- In a significant move for South Africa’s burgeoning hemp sector, the province of KwaZulu-Natal (KZN) has awarded 664 licenses for the cultivation, storage, and transportation of industrial hemp, as reported by The South African. This decision, announced in October, marks a pivotal moment in the region’s agricultural and economic landscape.

KZN’s Department of Agriculture and Rural Development (DARD) made this announcement during the Cannabis Expo and Conference held in the province, signaling a strategic shift towards embracing the potential of the hemp industry. Notably, the licensed hemp plants are permitted to contain up to 0.2% THC, aligning with international standards for industrial hemp.

Premier Nomusa Dube-Ncube hailed the expo and conference as heralding a “new era for the cannabis sector in the province.” The DARD has allocated approximately 47 million rand (around USD$2.4 million) for cannabis research, with an additional 10 million rand (about USD$526,000) earmarked to support local farmers in both cannabis production and navigating the hemp permit application process.

MEC Super Zuma of the DARD emphasized the department’s commitment to ensuring a streamlined process for permit holders, covering all associated costs. Zuma highlighted this initiative as a crucial step in combating poverty and unemployment in the region, praising the collaborative efforts that have led to these developments.

Among the beneficiaries of this new licensing program is Sphelele Shezi, who plans to leverage her permit to expand her business. Shezi, who applied for the permit in July, intends to extract hemp oil for use in her company’s hairspray products. She expressed optimism about the growth potential this permit offers, envisioning the establishment of a manufacturing plant that could create numerous job opportunities.

This move by KwaZulu-Natal represents a significant advancement in South Africa’s approach to the cannabis industry, particularly in recognizing the economic and agricultural potential of industrial hemp. It underscores a growing trend in global markets where regions are increasingly acknowledging and integrating the cannabis sector into their economic frameworks. The initiative in KZN not only fosters agricultural innovation but also promises to stimulate job creation and economic development, offering a hopeful outlook for the province’s future.

About the Author: HCN News Team

The News Team at Highly Capitalized are some of the most experienced writers in cannabis and psychedelics business & finance. We cover capital markets, finance, branding, marketing and everything important in between. Most of all, we follow the money.

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