Among other African countries joining in, South Africa is seeing a huge boom in their cannabis industry, as Israeli eyes are looking to invest big and donate part of their profits to help the local communities.
Low labor costs, minimal regulation, sufficient water supply and excellent weather conditions have attracted Israeli medical cannabis industry leaders to several countries in Africa.
Cannabis greenhouse – Screenshot: Israel’s i24NEWS video report
By paying local workers over twice the average monthly income, and guarantees to reinvest part of the profits into the local medical system, authorities are welcoming the cooperation with the Israelis to spur their economies. Continue Reading »
In a surprised move on Thursday, Deputy Health Minister Yaakov Litzman decides to remove cannabis from the Dangerous Drugs Ordinance, making it available at local pharmacies for those holding a proper medical prescription.
By Sara Rubenstein
Cannabis classification and Species – Wikipedia
Deputy Health Minister Yaakov Litzman decided to remove cannabis from the Dangerous Drugs Ordinance, enabling those with medical prescriptions to obtain cannabis at any Israeli pharmacy, according to a statement by Israel’s Health Ministry on Thursday.
“The Dangerous Drugs Ordinance will be changed and medical cannabis will be prescribed for certain medical conditions without requiring a license and approval from the Health Ministry, like any other medication,” the Health Ministry wrote in a statement. Continue Reading »
Medical cannabis stocks reaps windfall at Tel Aviv Stock Exchange as the reform, meant to allow the export of medical marijuana farmed & processed in Israel, was passed with the intention of infusing up to $1 billion annually into state coffers.
The Knesset, Israel’s parliament, on Tuesday approved a reform that would allow the export of medical cannabis farmed and processed in the country. In total, 21 MKs voted for the law, which passed unopposed. The implementation of the reform, in the works since 2016, is still pending a final vote by ministers.
The reform is forecasted to bring the country anywhere between $70 million and $1 billion a year. Continue Reading »
Israel’s Public Security Minister opposed the recommendation, but still, an inter-ministerial committee OK’d the export of medical cannabis abroad, even after being warned how Israel may be unprepared to handle the ramifications of the export of this ‘dangerous drug.’
By Eli Senyor, Gad Lior
Israel will soon become a major exporter of medical cannabis and be one of the only nations in the world to officially export the plant to countries that approved it for medicinal use, all the while marijuana remains an illegal, controlled substance in Israel.
According to estimates, revenues from the export of Israeli cannabis could reach about NIS 1 billion a year. Continue Reading »