Stakeholders in the local cannabis industry are raising concerns regarding the difficulty being faced by small farmers as a result of their inability to access banking services.

They’re also raising concerns at the slow pace of regulation reform. 

The comments come amid mounting concerns that the sector is being dominated by foreign investors to the exclusion of local farmers, who for decades had sustained the multi-million dollar industry.

Seven years after the establishment of the Cannabis Licensing Authority, stakeholders say local ganga farmers are still facing significant bureaucracy.

They say banking is one such impediment. 

Wayne Isaacs is Chief Executive Officer of Green Stripe Naturals Limited.

Promised amendments to the 2016 interim regulations have not materialised. At the time, it was announced that the regulations would have been amended within two years.

Mr. Isaacs says the slow pace of development for the regulations is putting Jamaica at a disadvantage in the international cannabis industry.

President of Ganja Growers and Producers Association of Jamaica (GGPAJ), Richard Crawford, agrees.

He says the slow pace of regulation reform is a significant threat to the industry.

Richard Crawford, President of Ganja Growers and Producers Association of Jamaica (GGPAJ).