Quarterly Report back on the Ngoye View Agriculture, our Cannabis Qualifying Company
Share Class A
Our Sharia offering through the operating partner in the organic cannabis sector, has started the year off on a steady footing. The founders of this new venture, under the very capable leadership of Muhammed Dockrat, Farzana Varachia, and Kirkland family, have expertise in hydroponics, medicinal CBD product development and research, engineering, sales procurement, logistics, training and tourism.
The world class cultivation, production, and research facility in northern KZN broke ground in the second quarter 2020. Chris Hart, the executive chairman of Impact Investment Africa was in attendance.
Phase 1 – the initial instillation, includes a 2 800 square meter greenhouse consisting of four state-of-art tunnels, followed by phase 2, the CO2 extraction, Research and Development facilities. Expansion of up to 4 hectares is planned thereafter.
The specialist grow team has been engaged to source the best strains to produce the highest yields possible.
The licensing process commenced in the first quarter 2020 and SAHPRA has planned the first site visit for later this year.
Investors may well ask the question, why has our investment committee chosen to invest in the medicinal cannabis sector. Firstly, the largest application segment within the global medicinal cannabis market is that for treating chronic pain (44%). The use of medicinal cannabis for the treatment of cancer and to improve sleeping is well known, but great strides have recently been made in effectively treating mental disorders, multiple sclerosis, epilepsy, and muscular dystrophy, to name but a few. This segment of the market is expected to be the fastest growing for years to come.
Secondly, the goal of becoming the premium quality medicinal cannabis producer and processor has started off very positively. Ngoye View Agriculture Pty Ltd is well positioned to capitalize on its plans for establishing this world class cultivation, testing and R&D facility right here in South Africa.
The marketing arm has already engaged African and wider global consumers, including pharmaceutical companies and retailers.
Direct positive feedback to the Impact Empowerment Ventures’ investment committee following Chris’ site visit and board meeting last month, has reminded us why we have taken the plunge into this very new and exciting agri-tech Share Class.
IEV Investment Committee