Finance Minister Tito Mboweni has taken to social media, saying that the legalisation of cannabis could give billions in tax money to SARS.
JOHANNESBURG - Finance Minister Tito Mboweni says legalise it.
He's taken to social media saying that the legalisation of cannabis could give billions in tax money to SARS.
A senior economist agrees, saying that South Africa can't afford to ignore the economic benefits of decriminalising it.
The business of cannabis is booming and the industry has the potential to generate billions of rand for the fiscus.
"There's a lot of benefits. South Africa cannot miss out," said Wandile Sihlobo, Agbiz senior agriculture economist.
It’s especially the rural areas that will benefit from the development of the industry.
Lesotho was the first African country to decriminalise cannabis, while Botswana, Swaziland, Zimbabwe and Uganda are at different stages of issuing their licenses.
South Africa’s current regulatory and policy framework prohibits the development of the cannabis industry.