By: Nghiinomenwa-vali Hangala
For the financial year of 2024/2025, which ended in January last year, Meatco has paid N$1.2 billion to local producers (cattle suppliers) from the south and north of the redline, according to an update from the entity.
The update goes on to state that N$1.1 billion was paid to the cattle producers south of the red line for supplying the corporation with 75,268 head of cattle. Those on the northern side of the redline were paid N$76 million for supplying Meatco with 7,844 cattle.
The cattle were slaughtered for beef exports and local consumption. At the same time, for the production of hides, which are mostly exported.
Meatco shared this update ahead of its Annual General Meeting (AGM) scheduled for 20 February 2026, noting that it continued to support primary livestock production in the national interest.
“Consistent payment of market-related prices remains central to sustaining producer confidence and enabling long-term production planning,” said Meatco.
In its update to producers, markets, and stakeholders, Meatco said it intended to signal measurable progress in its financial recovery and governance reforms.
During today’s AGM, the company will formally present and consider the audited financial results for the year ended 31 January 2025. The meat corporation will also provide an update on the implementation of the its Board-approved Turnaround Plan and related governance interventions.
Meatco’s preliminary performance indicators show that the group revenue for the period under review increased to N$1.865 billion, from N$1.203 billion in the previous year. This resulted in an operation profit of approximately N$106 million before tax, compared to a N$150 million loss in the previous period.
“These results mark a decisive shift away from five consecutive years of losses between 2020 and 2024,” the corporation reported.
The beef entity indicated that progress to date was recorded across various pillars such as enhanced board oversight, improved financial controls, tighter cost management, and stabilised operational processes, laying the groundwork for sustained recovery.
Meatco also acknowledges the continued confidence of the government, its sole shareholder, including the provision of medium-term funding support through the national budget framework for the next three financial years.
“This support remains a critical enabler of the turnaround, reinforcing institutional stability while governance and operational reforms take root,” indicated Meatco.
Looking ahead, Meatco’s management indicated that they remain attentive to climate variability and its potential impact on livestock supply, as mixed rainfall patterns have been recorded during the 2026 season and further indications of possible localised dry conditions in 2027.
As a result, the corporation will continue to engage closely with producers, applying flexible sourcing strategies and proactive planning to manage supply risks.
erastus@thevillager.com.na
