Meat Corporation of Namibia (MeatCo) has amassed revenue of N$775 million year to date (YTD) of which N$600 million was paid to producers during the year under review, the Corporation has said.
In a statement, MeatCo said that this year, the national herd is finally back at 2.5 million as announced by the Directorate of Veterinary Services (DVS) under the Ministry of Agriculture, Water & Land Reform (MAWLR).
“To this end, Meatco has slaughtered 53 820 cattle both from the South of the Veterinary Cordon Fence (SVCF) and the Northern Communal Area (NCA), translating in 9 672 tons of beef sold YTD up until August 2023, locally and internationally,” the Corporation said.
Namibia remains the only country in Africa that can export to lucrative markets such as Norway, China, USA and the rest of Europe through Meatco.
“As part of our mandate, as a Commercial Public Enterprise, our primary role is to serve, promote and coordinate the interests of livestock producers in Namibia, and strive for the stabilisation of the Meat Industry of Namibia in the National Interest. As a result, and due to our public policy objective, we serve our farmers even in times of ravaging draughts to ensure that we support primary production.
“As a result of high volumes and changes experienced in critical logistical documentation and procedures Meatco experienced delays in clearing consignments and subsequently, the business experienced cash flow constraints to pay all producers within the established payment terms of 30 days. However, this situation has been addressed all documentation has been shared with clients and consignments have been cleared safely for those still enroute to their final destinations, and Meatco is currently catching up with all producer accounts in arrears,” further stated MeatCo.