Freedom Leaf expands international footprint in South Africa
Global healthcare company Freedom Leaf, now doing business under Freedom Leaf Health, and parent company of leading hemp health and wellness brands Leafceuticals, IrieCBD, and Hempology have announced a significant new order in the emerging South Africa CBD market.
Freedom Leaf’s locally based distribution partner placed a new $100,000 purchase order with the Company to service a national pharmaceutical chain with three hundred outlets. Once delivered, this order is expected to fulfill projected revenue for one quarter. Freedom Leaf is an early mover in South Africa, which has a population of 55mm and is the fifth most populous country on the continent. Over the past year, IrieCBD South Africa has received all the requisite approvals to import and distribute our products nationwide.
IrieCBD products are currently sold in 10 health and wellness and veterinarian locations in Durbin, Johannesburg, and Cape Town and online. Our distribution partner is experiencing triple-digit month-over-month revenue growth and expects to add 3-4 specialty outlets per month.
In the fourth quarter of 2018, the South African Constitutional Court decriminalized the possession and cultivation of cannabis in a “private space” and the country’s legal framework allows for the cultivation, importation and use of medical cannabis under strict regulations. Prohibition Partners estimates that South Africa will be the largest cannabis market on the continent by 2023.
“South Africa represents a significant international growth opportunity for Freedom Leaf, and our partner will continue to aggressively expand our distribution network in this untapped market,” stated Freedom Leaf Health's CEO Cliff Perry.
