Meatco pays N$2 billion to producers over three years
Over the last three financial years, Meatco paid over N$2 billion to the livestock producers mainly south of the redline to sustain primary production.
This was revealed at Meatco’s annual general meeting over the weekend. Meatco’s Chief Financial Officer, Angus Claassen, highlighted that during the last financial year, improved ratios were achieved despite a massive drop in throughput (35,127) compared to 2019/2020 when the abattoir slaughtered 116,304 cattle.
Meatco also increased average international realisation by 5% from €5.84 (Euro) to €6.11 (Euro).
Interim Meatco Board Chairperson, Adolf Muremi said the company’s role in Namibia’s red meat industry and is not only to stabilise the industry in the national interest but also to access lucrative international markets on behalf of all livestock producers in Namibia regardless of whether they are communal, emerging or commercial farmers.
“The Agriculture Industry is indeed at crossroads with so many opportunities and challenges facing the industry,” Muremi said.
The annual general meeting was held on Friday, 30 September at Otjiwarongo where over 100 Meatco producers and members gathered to deliberate issues and strategies that shape Meatco’s future and to review its 2021/2022 financial performance.