Staff Reporter
THE Meat Corporation of Namibia (Meatco) has reported a return to profitability and significant revenue growth ahead of its Annual General Meeting (AGM) scheduled for 20 February 2026, marking what it describes as a decisive shift from five consecutive years of losses.
In an update issued, Meatco said preliminary financial indicators for the year ended 31 January 2025 show group revenue increased to N$1.865 billion from N$1.203 billion in the previous year. The corporation recorded an operating profit before tax of approximately N$106 million, compared to a N$150 million loss in the prior period.
The audited financial results will be formally presented at the AGM, along with a progress report on the implementation of the Board-approved Turnaround Plan (TAP).
Interim chief executive officer Albertus Aochamub said the improved results reflect more than financial recovery, but also reforms in governance and accountability. He added that the turnaround strategy has focused on restoring financial discipline, strengthening internal controls and stabilising operations.
The TAP, approved in November 2024, is structured around five strategic pillars: financial stability; governance and leadership; market development and realisation; operational efficiency; and producer prices and throughput.
Operational performance also improved during the review period, with cattle throughput south of the Veterinary Cordon Fence reaching 75,268 head, while throughput in the Northern Veterinary Area stood at 7,844 head.
Meatco further acknowledged continued support from the Government of the Republic of Namibia, its sole shareholder, including medium-term funding through the national budget framework for the next three financial years.
Looking ahead, the corporation said it remains alert to climate variability and potential livestock supply risks, particularly in light of mixed rainfall patterns during the 2026 season and possible localised dry conditions in 2027. It added that it continues to engage producers and apply flexible sourcing strategies to manage potential disruptions.
The corporation said the upcoming AGM will provide stakeholders with a comprehensive account of its financial performance, governance reforms and the next phase of its recovery roadmap.
Photo: Meatco
