US firm Restance will make Playboy branded condoms for the Kenyan market from its Sh502 million local factory.
The factory set for establishment in early 2018 has received an initial Sh50 million order for manufacture and distribution under the #DoitforAfrica campaign.
“Restance will manufacture condoms for the #Doit4Africa buy-one-give-one campaign where an anticipated Sh2 billion in condoms will be sold in North American and for every condom sold, a condom will be manufactured for free give-aways in Africa,” it said.
At the same time, Restance said it was also pursuing other investment interests in Kenya among them real estate, technology and systems integration services, utility support services, and health products manufacturing.
To fast-track launch of its Kenyan operation it acquired the entire stake of Kenya-based equity firm, East African Development Partners in exchange for five million shares of Restance. Restance has since acquired manufacturing equipment for the production facility.
Former East African Development Partners LLC top official Randell Torno has been retained as Restance Kenya chief executive.
“For the upcoming buy-one-give-one #DoItForAfrica campaign, we anticipate to generate Sh2 billion in annual sales and contribute to the United Nations goal of eliminating the spread of Aids in Africa,” it said.
According to a recent study on Kenya, demand stands at 360 million against a supply of 190 million imported into the country annually.