Bumiri Producers and Setabout launched South African market

BUMIRI, SOUTH AFRICA, May 9, 2018 – Company Setabout today announced that The Investment Monitoring and Corporate Services Authority (IMCSA) granted it preliminary license to offer j. and j. large proton vaporisers (PVL) services and to sell / import / import into the Republic of South Africa a PVL as well as a importation licence. Company Setabout CEO, Andrew Buchan says “immediately upon this effective date, the CEO and managing director of the company would commence with the importation of PVD or PVD imported into the company’s home town of Bumiri, on an accelerated basis. He continued stating that the company wishes to provide this capacity, capability and product diversity to the South African market”. The Johannesburg Stock Exchange Securities Exchange (JSE) Limited (JSE-STK) was notified of the application for provisional license in January 2018 and the companies Chief Executive Officer, Mr. Andrew Buchan has indicated that Company Setabout is currently negotiating with prospective investors in the supply of PVD and, once this is successful, the company would commence offering public PVD services to investors and also manufactures the product from their Bumiri plant with the intention of becoming a player in the South African and the international market for the production and supply of the respective products. Over the past few years, South Africa, one of the key markets for j. healthy and the USMSA (US Food and Drug Administration) have been lobbying j. healthy manufacturers to change the shape of their respective products. At the beginning of the year, a US Food and Drug Administration or USFDA (US Food and Drug Administration) tested a j. and j. large Proton Vaporizer (PV) and found some adverse reactions within the first two days of use, resulting in a stop of sale in the US. Importantly, the US regulators stated that, not using the best interests of consumers at heart, the product is still considered to be unsafe for consumption.According to experts, the use of non-smokers and even smokers of J. Healthy and the USMSA dietary supplements, and their uses should be regulated in a similar manner to the rest of the human population. The use of a consumer product will not be subject to the same regulations as a non-consumer product.This issue, as well as others surrounding J. healthy or USMSA products has resulted in retailers, wholesalers and retailers struggling to cope with demand. The production and distribution capacity is there to meet that demand which is why that is where companies like the one set up by Company Setabout are stepping in. The company’s mission is to focus on the consumers and reduce the health risks associated with the use of J. Healthy and also producing the product that is safe for consumption. In South Africa, companies are seeing more opportunity in addition to the regulatory opportunities that international markets offer. According to research and analysis based on the market leadership positions that they have proven.Ways of increasing revenues and market share include partnership with international companies like Janssen, Johnson & Johnson and other organisations involved in the manufacture and distribution of such products globally.The chief Executive Officer’s continued statement noted that Company Setabout has the ability to fulfil the vast needs of the domestic market.They further noted that the Company Setabout will be a global partner for the production and distribution of J. healthy and J. Healthy there is a huge market for such products all over the world. How the management will try to maximize their potential remains to be seen.In Conclusion, Bumiri Producers and Setabout believe that South Africa and indeed Africa are a huge market for such products. It is very important for them to continue to add value to this market and especially in a market with less than 20 years of living space.