Windhoek: The Meat Corporation of Namibia announced that it recorded revenue of N.dollars 1.87 billion and a profit before tax of N.dollars 105 million for the 2024/25 financial year. These results mark the end of five years of consecutive losses for the State-owned processor.
According to Namibia Press Agency, the corporation during its 37th Annual General Meeting on Friday said it processed 83,112 animals over this period. This throughput allowed Meatco to pay N.dollars 1.13 billion directly to producers, an amount representing 67 percent of its cost of sales. 'Payments included N.dollars 1.1 billion to farmers south of the Veterinary Cordon Fence and N.dollars 76 million to those in the Northern Communal Areas. These figures are not abstract. They represent income flowing back to farms, livelihoods sustained, and confidence restored,' said Stephanie de Klerk, deputy chairperson of the board.
The financial recovery follows the implementation of a Turnaround Plan in late 2024. The strategy focused on four pillars: market development, operational efficiency, throughput consistency, and financial liquidity. De Klerk stated that the board moved away from operational management to focus on integrity and controls.
Minister of Agriculture, Fisheries, Water and Land Reform, Inge Zaamwani addressed the members regarding the progress. She noted that the improvements in stability contribute to rural economic resilience. However, she reminded the meeting that the journey is not yet complete. 'Meatco's financial stability is a matter of national interest,' Zaamwani said. She urged the corporation to maintain vigilance against foot-and-mouth disease (FMD) to protect export reputation.
Chief veterinary officer Kenneth Shoombe confirmed that Namibia remains free of the disease in the south. He stated that the country continues to trade as a disease-free nation without vaccination. To support this, De Klerk confirmed that the board is finalising a national readiness plan.
The AGM also highlighted the activation of facilities in Eenhana, Outapi, and Ongwediva to provide market access for communal producers. The AGM noted that while infrastructure and climate risks remain, the corporation has moved to a firmer footing through disciplined execution. Producers recognised for their contributions included Fiegenfeld Farming, Zebra Kasete, Stephen Tjiuoro, Mbangweta Liyemo, and Northern Cattle Post.