Article – South Africa: Banks can’t finance the cannabis industry

he banking sector is hesitant to invest in cannabis because the current legislation inhibits financial institutions from putting money into the industry. Under the Drugs and Drug Trafficking Act cannabis is still outlawed but new legislation would decriminalise the stimulant, allowing for money to flow into the industry. Major banks, including Nedbank, FirstRand and Absa, have said they have followed the […]