Meatco pays N$2b to producers

… as debt to commercial banks is reduced by 70%

• By Hilary Mare

BETWEEN 2019 and 2021 – the harshest period in Namibia’s drought season, Meatco paid its producers approximately N$2 billion, Confidente can reveal.

In an exclusive interview with chief executive officer, Mwilima Mushokabanji, he revealed that as part of Meatco’s long term strategy to profitability, Meatco’s debts with commercial banks have to date been reduced by 70 percent.

“At present, Meatco remains the only public enterprise in agro-processing that is able to penetrate and compete in complex, advanced economies such as the USA, Europe and China, to mention but a few. With our current business model, Meatco will without a doubt remain competitive and sustainable,” Mushokabanji said.

He went on to highlight that there is a myriad of empirical evidence proving that Meatco has consistently been paying competitive prices and stabilising the livestock industry as per its mandate.

Read the full story in this week’s edition.