Education is key as momentum shifts in SA's cannabis industry

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According to Statista, the global Cannabis market is forecasted to reach almost $65m this year. With its long and deeply rooted Cannabis heritage which includes unique and sought-after Cannabis strains, South Africa should take its place as a leader on this world stage. According to estimates, the country’s Cannabis industry could generate over R28bn annually, creating a range of entrepreneurial businesses and thousands of jobs across the agriculture, processing, and retail sectors.

It is therefore significant that the South African government has recently announced key steps to improve the regulatory framework and intentions to provide multi-sectoral industry support. Acting Minister in The Presidency, Maropene Ramokgopa, has confirmed that the government is moving forward with the development of the Cannabis Master Plan for the country to support growth and development, and ensure that the cannabis and hemp industry in South Africa is positioned to contribute meaningfully to economic growth, poverty alleviation and job creation.

Upskilling SA’s cannabis entrepreneurs

A priority in the development of the cannabis and hemp industry is equitable access to this potentially lucrative market. To drive industry growth and compete worldwide, the country needs skilful entrepreneurs, leading industry specialists and a robust pool of well-qualified talent. To this end, The Gordon Institute of Business Science (GIBS) Entrepreneurship Development Academy (EDA) in partnership with cannabis education specialist Cheeba Cannabis and Hemp Academy are now in their second year of offering the comprehensive education programme, The Business of Cannabis. The training is led by Cheeba’s industry professionals alongside GIBS faculty who are experts in entrepreneurship. Together, they provide participants with knowledge and insights that will enable them to comprehend the lucrative opportunities within the emerging Cannabis and hemp industry.

This year’s The Business of Cannabis training takes place from 8 October to 16 November 2024, and registrations are open until 4 October 2024. The hybrid learning programme includes live Zoom sessions, resource packs, an in-person and an online Community Zone for collaborative learning. The programme includes a two-day industry immersion at the Cheeba Cannabis and hemp campus in Johannesburg where delegates will visit a number of businesses operating in the industry including a licensed Cannabis farm.

Guinivere Pedro, senior programme manager at GIBS Business School says, “We came on board with this Cannabis education programme to be at the forefront of this emerging industry. South Africa is rich in the cultures and traditions of medicinal and personal Cannabis use, and there is a considerable, historic knowledge repository when it comes to plant breeding, seed supply and cultivation. The Business of Cannabis enables our students to explore African Cannabis and hemp insights with experts. They also gain global perspectives, develop entrepreneurial skills, and find out how to navigate the current fluidity in legislative changes. The programme opens opportunities for our students in an exciting emerging market where South African businesses can potentially develop as top global leaders.”

Trenton Birch, the CEO and cofounder of Cheeba Africa adds, “South Africa stands at the threshold of an industry poised for explosive growth. The question is not whether we can compete, but whether we will seize the moment and lead. The opportunities are vast, the potential for impact is undeniable, and the time to act is now. Education plays a critical role in developing Cannabis leadership and entrepreneurial talent now so that a robust local industry develops in South African hands providing dignified livelihoods for South African people and profits that enable the economic development of South African communities.”

Find out more about The Business of Cannabis training programme here. Registrations close on 4 October 2024 and GIBS will be awarding part bursaries to two registered participants, covering 50% of the course fees.