Kannaway subsidiary of Medical Marijuana, Inc. MJNA achieved its largest revenue month in the company’s history in its South Africa division for March 2022.
Africa’s cannabis industry is rapidly expanding, becoming one of the company’s top international growth markets. According to The African Cannabis Report is projected to be a $7 billion market by 2023. Reach and Markets highlights that the South African cannabis/cannabidiol (CBD) market is expected to see a CAGR of 28.4% Between 2022 and 2026.
“2022 has been a truly remarkable year for sales in South Africa so far,” stated Medical Marijuana, Inc. CEO Blake Schroeder. “We’re excited about our very rapid growth in the market and look forward to continued growth not only in South Africa but also our expansion throughout the continent as cannabis becomes legally accepted and free access continues to be newly enabled.”
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