Cupid Ltd gets board nod for South African manufacturing venture

Cupid Limited has received in-principle board approval to establish a manufacturing venture in South Africa with a local partner. The venture will focus on manufacturing, processing, testing, packaging, marketing, and supplying male condoms and related products. Cupid is expected to hold up to 49% equity, with the South African partner holding at least 51%. This strategic move aims to align with South Africa's localization priorities, strengthen Cupid's presence in the African market, and potentially serve international markets. The company will contribute technical expertise, while the partner will arrange capital expenditure and funding, creating an asset-light model for Cupid.