Niël Terblanché
The Meat Corporation of Namibia (Meatco) is focused on driving progress and adapting to the evolving challenges of the market to ensure the continued success of both Meatco and the livestock industry at large.
Meatco hosted a special members’ meeting on 11 February, with approximately 100 members in attendance.
The meeting, which provided an overview of the company’s financial status for 2023/2024, served as a platform to share key developments and feedback on the corporation’s turnaround strategy.
During the meeting, the management team acknowledged the financial challenges faced by the company.
However, the presentation of the annual report reflected a cautiously optimistic outlook for the future.
While the current financial position remains less than ideal, there are clear signs of recovery.
Meatco’s board chairperson, Sakaria Nghikembua, called upon all in the agri-sector to collaborate and work together for the meat industry to thrive.
He reiterated that Meatco is an organisation that continues to play a strategic catalyst in the livestock sector and meat industry and its stability is pivotal, stressing that those in the industry have a responsibility to enhance the industry’s dynamic capabilities to remain competitive and sustainable.
The board reported on the financial performance for the past 10 months, describing it as a foundation for renewed confidence and growth.
“The financial position is stabilising, and we are committed to building on this positive trajectory for Meatco to stay competitive and sustainable,” Nghikembua said.
He added that a crucial aspect of Meatco’s progress has been the support from the Ministry of Finance.
Nghikembua added that the financial intervention by the ministry was instrumental in helping the company navigate its most challenging period.
The Livestock Producers’ Organisation (LPO) expressed gratitude for the ministry’s role.
“Without the Ministry of Finance’s timely assistance, the turnaround might not have been possible,” a representative from the LPO said.
The LPO also thanked the Meatco Board of Directors for their strategic leadership and continued efforts to guide the company towards recovery.
Meatco’s leadership reaffirmed its commitment to its strategic goals, aiming to strengthen the organisation’s stability and its role in securing a prosperous agricultural sector.
The LPO representative added that Meatco’s recovery is critical for the sector’s long-term sustainability as an essential player in Namibia’s agricultural industry.
