OVER the next three years South Africa’s cannabis market is set to be worth as much as half a billion Rand and the key to its success will be developing close-knit, collaborative relationships with key institutions, governments, cultivators, regulatory organisations, and industry bodies not only in South Africa but also Europe - which is a key market.

In addition, says Johann Slabber, CEO of biotech company OI Holdings, the jobs potential in South Africa is enormous. The Department of Agriculture, Land Reform and Rural Development estimates the industry can create anywhere between 10 000 and 25 000 jobs across the sector in coming years.

Slabber says while the industry is shaping up to be highly competitive, key players need to make sure that in the early phases of the industry’s rapid growth, that there is strict adherence to safety, regulations and protocols which have been carefully formulated over the past few years: “The potential of this industry is astonishing in its scale and over time will be a major contributor to the country’s economy. It is imperative therefore that we are seen as responsible, dependable, and accountable.”

Origo International Holdings (OI Holdings) has been licenced and accredited by the South African Health Products Regulatory Authority (SAHPRA) to cultivate, cannabis and is in the process of obtaining its EU GMP (European Union Good Manufacturing Practice) licence which will enable the company to eventually focus on extraction, manufacture, import, export and distribution of medical cannabis and cannabis derived products on an industrial scale both locally and internationally.

As the first bio-hub of its kind in South Africa, the Tshwane-based facility will also support Good Agricultural and Collections Practice (GACP) licensed producers in gaining access to the international cannabis market.

Slabber, who has been involved in procuring over 20 GACP licences, says: “Governments, policymakers, drug policy reform advocates and affected communities all over the world have been facing complexregulatory environment and these challenges and their outcomes have motivated the OI Holdings to invest in the latest technologies and innovative practices that can help local cannabis producers become industry leaders in the African medicinal cannabis sector.”

Slabber says Gauteng as the principle economic hub in South Africa is uniquely positioned to become a major local and continental growth and distribution hub. The province has already identified cannabis as one of ten high growth sectors to promote accelerated economic growth: “Origo wants to create awareness and a laser focus in putting the province and the country on the global economic cannabis producing map and in so doing become a major jobs enabler.”