The Director of South Africa’s first dedicated cannabis investment fund, Silverleaf Investments, Darryl Weisz (pictured here), says he didn't expect the President’s decisiveness in lifting the controversial cannabis in foodstuffs ban. He says the same urgency should be applied in following this through with enabling legislation to unlock the domestic cannabis market.
26 March 2025 at 17:00:00
Darryl Weisz, Silverleaf Investments
I was genuinely taken aback by the speed at which the recent legislative changes were resolved—first by their sudden introduction a fortnight ago, and then by the President’s remarkably swift decision to postpone their implementation. It’s still a case of “business unusual” for the cannabis and hemp industry, but this is a positive development that we should all be grateful for.
What stands out most to me is the President’s Office acting so decisively to prevent a highly counterproductive piece of legislation. This also signals that across the cannabis and hemp industries, we have strong advocates who worked in concert with the President’s Office to reverse the situation. Now, they must channel that same urgency into driving further legislative reforms—unlocking the vast potential of the cannabis industry in job creation, new local and export markets, and generating new revenue streams for South Africa as a whole.
Hopefully, this rapid turnaround will create the momentum needed for the cannabis industry—and those who have invested significant capital, resources, and commitment over the past 5 + years—to finally see the same urgency from the Presidency, the Department of Trade, Industry and Competition (DTIC), and other key ministries to finalise legislation pertaining to the Industry.
The goal must be the creation of enabling legislation that allows the industry to thrive and positions South Africa as a global leader across the many opportunities that the cannabis and hemp sector has to offer. That’s my hope.
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