Nearly four years have passed since the Constitutional Court essentially decriminalized cannabis usage by South Africans by determining that they have the freedom to consume it in their homes in private.
Since then, several turning points have made it possible for South Africa’s embryonic cannabis market to take off.
Cannabidiol (CBD) was reclassified as a level 4 substance in 2019, making all CBD-containing treatments completely legal.
The eagerly awaited Cannabis Master Plan, which outlines how cannabis can be incorporated into South Africa’s business sector as part of the current government drive towards legalization and commercialization, was presented in June 2021. The government has a legitimate rationale for wanting to concentrate on this sector.
According to the Department of Agriculture, Land Reform, and Rural Development, the cannabis industry in South Africa is worth an estimated R28 billion and has the potential to generate between 10 000 and 25 000 jobs nationwide.
However, because the enabling legislation has not yet been passed and because change has been happening more slowly than expected, there have been some difficulties along the way. Goodleaf, on the other hand, immediately recognized the chance and seized it.
Four years later, the company has a robust premium product lineup that consists of powder sachets, effervescent flavor water, oils, skincare topicals, and natural vapes. A wide variety of the brand’s products are offered online and at well-known stores in South Africa, including Pick ‘n Pay, Spar, Checkers, Wellness Warehouse, Woolworths, Poetry, and Vida e Caffè.
Goodleaf set out to become a South African-based cannabis brand with a global presence. With a world-class brand and distribution across South Africa, the UK, and Europe, Goodleaf Wellness has transformed from a fledgling start-up to become Africa’s leading vertically integrated cannabis operator in less than four years. This is accomplished by combining high-quality, reasonably priced cultivation and production with these two regions’ legal marijuana markets.
What comes next?
The opportunity is definitely there. As people become more aware of the potential advantages of these goods for their health and wellbeing, demand for cannabis products and other plant-based alternatives to conventional wellness and beauty products will only increase.
Given the country’s plentiful sunshine and affordable manufacture, the company saw a significant opportunity for South Africa. Consider the medicinal plant history of South Africa: rooibos, moringa, marula, baobab, and kalahari melon. These plants’ calming, moisturizing, and anti-inflammatory qualities are similar to those of CBD, making the combo a potent organic product for skin vitality with a strong value proposition.
It is vital that the cannabis business does not miss the chance to provide value right here in South Africa as it enters this exciting new era. We must make an effort to avoid turning into another industry where raw materials come from Africa but actual value is developed in Europe or North America. We can do it, so let’s embrace it and move swiftly, decisively, and with the conviction that this is a chance that South Africa should not pass up.