The Role of the South African Government in Advancing the Cannabis Industry to Assist the Ailing Economy and Improve Unemployment

Abstract

The cannabis industry, although shrouded with controversy due to stigmatization, has the potential to substantially enhance the economies of countries and assist with alleviating unemployment. The industry is projected to be worth some two hundred and seventy-two billion dollars by 2028. Besides the commonly understood medicinal properties, the plant has broad applications for use in construction, food products, toiletries, paper, and furniture. Following the devastation of the coronavirus pandemic and the looting in July 2021, the South African government needs to pursue alternative revenue streams. Public debt is mounting, unemployment figures continue to rise, and the economy is strained. This chapter thus seeks to offer insight into the contribution that the cannabis industry could provide in assisting the ailing economy and in alleviating unemployment.