The company has already held talks with the Kenyan government with regard to the investment. [Photo/ cosmopolitan.com]
An American company has finalised plans to establish a Sh450 million condom factory in Nairobi.Restance Inc said it will execute the investment through Wast African Development Partners LLC, which it recently acquired in exchange for five million shares of Restance Inc.A brief on the company’s website says Restance Inc has already acquired assets that include manufacturing equipment for the condom production factory.The company also announced retention of East African Development Partners LLC top official Randell Torno as the firm’s chief executive for Kenya.Restance has a vast interest in the real estate, technology, and health product sectors.It said it is in talks with a major global condom brand for condom manufacturing and distribution in Africa.“For the upcoming buy-one-give-one #DoltForAfrica campaign, we anticipate to generate Sh2 billion in annual sales and contribute to the United Nations goal of eliminating the spread of HIV/Aids in Africa,” the company said as quoted by Business Daily.The firm’s top officials have already held talks with the US ambassador to Kenya and senior government officials with regard to the investment.The company’s investment in condom making is its first step in pursuing several business lines in East Africa.A recent study indicated that Kenya men’s condom use demand stands at 360 million against a supply of 190 million which are all imports.