CANNABIS INDUSTRY
BREAKING NEWS
Minister of Small Business Development Commits to Implementing New ‘Cannabis Support Programme’
Stella Nabeni-Abrahams says her Department will address the industrial cannabis value chain and the ‘mainstreaming’ of indigenous growers in the upcoming year.
Cannabiz Africa
20 July 2024 at 10:00:00
Last Friday, 12 July 2024, in Cape Town, Minister of Small Business Development Stella Ndabeni-Abrahams pledged her support for the fledgling industrial cannabis sector.
Presenting her Department’s budget vote for the 2024/25 financial year, she said its Cannabis Support Programme will be implemented. Although she was shy on specifics, Minister Ndabeni-Abrahams said her Department would “address both the industrial hemp value chain and the main-streaming of small indigenous cannabis growers into lucrative markets.”
Small Business Development has been allocated a total of R2.437 billion, with the majority of this budget directed towards transfers and subsidies, accounting for 83.5% or R2.034 billion.
No figure was released for a budget for the Cannabis Support Programme but he Minister’s commitment to the industrial cannabis industry is likely to include funding.
Addressing the challenge facing small-scale businesses in general, the Minister said:
“Access to finance is a key constraint, particularly for previously disadvantaged individuals and start-ups.
“To address this, we have developed an SMME and Co-operatives Funding Policy to expand access to finance and early-stage investment.
“This policy, which we will table to cabinet this quarter, will be a game changer. It proposes a Fund of Funds to de-risk and leverage private sector investment for start-ups.
“We will also prioritise developing a Startup Policy and legislation in collaboration with relevant departments.,” Ndabeni-Abrahams said.
READ: IOL's report on the Minister of Small Business Development Stella Ndabeni-Abrahams ' budget speech.
Cannabis in South Africa: The People’s Plant
We are a civil society organisation with the interests of the existing Cannabis industry and the Human Rights of ALL citizens at heart.
Resources & Equipment
Explore cannabis growing equipment for growing weed at home.
Whether you’re just starting out, or you’re looking to enhance your outdoor or indoor weed grow setup – we have the perfect range of cannabis growing equipment to match your marijuana growing ambitions.
Find everything from LED grow lights, grow tents, fans, and hydroponic setups, to environmental equipment and controls, harvesting accessories, extraction equipment and plenty more.
Design your ideal cannabis growing setup with high quality growing equipment available in South Africa.
Explore cannabis growing equipment we’ve curated from reliable online suppliers in South Africa
Cannabiz Africa Newsline
The Business Of Cannabis
Coming Fresh every Week.