TIRI MASAWI
The Meat Corporation of Namibia ,(Meatco) has recorded an increase in the group’s revenue from N$1.203 billion to N$1.865 billion within a year.
The company says it will be reporting an operating profit before tax of approximately N$106 million, compared to a N$150 million loss in the year ending 2023 at the ri forthcoming Annual General Meeting (AGM) scheduled for 20 February 2026
The Company said these results mark a decisive shift away from five consecutive years of losses between 2020 and 2024.
Meatco added that the improved performance reflects early outcomes from the Turnaround Plan (TAP) approved by the Board in November 2024. The TAP is structured around five strategic pillars which are Financial Stability, Governance and Leadership, market development and realisation, operational efficiency and producer Prices and throughput
“The results we are presenting reflect more than an improvement in numbers; they demonstrate a fundamental shift in how Meatco is governed, managed, and held accountable.
“Under the Turnaround Plan approved by the Board, we have re-established financial discipline, strengthened internal controls, and restored operational focus. While important work remains, the Corporation has decisively moved away from a cycle of recurring losses and is now on a clear, credible recovery path.” — Meatco Chief Executive Officer, Albertus Aochamub said in a statement.
The forthcoming AGM will formally present and consider the audited financial results for the year ended 31 January 2025, together with an update on the implementation of the Corporation’s Board-approved Turnaround Plan and related governance interventions.
. During the financial year under review, cattle throughput south of the Veterinary Cordon Fence reached 75,268 head, while throughput in the Northern Veterinary Area stood at 7,844 head, reinforcing supply recovery efforts and supporting processing volumes.
Meatco also acknowledged the continued confidence of the Government of the Republic of Namibia, its sole shareholder, including the provision of medium-term funding support through the national budget framework for the next three financial years.
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