Staff Reporter
THE remarkable financial turnaround of Meatco will be tabled at the Meat Corporation of Namibia’s Annual General Meeting (AGM), scheduled for tomorrow at the NIPAM Executive Conference Hall on Paul Nash Street in Olympia, Windhoek. Interim Chief Executive Officer Albertus Aochamub said that the results to be formally tabled at the AGM reflect institutional effort rather than individual achievement. “Turnarounds are never the work of one individual. They are institutional efforts built over time,” he said.
The company has reported a significant financial turnaround ahead of its 2026 AGM, with group revenue rising to N$1.865 billion and an operating profit before tax of approximately N$106 million, marking a recovery from five consecutive years of losses.
In a statement issued this week, Albertus Aochamub expressed gratitude to government, producers, staff and the board for their collective role in stabilising the company under its Turnaround Plan approved in November 2024.
According to the figures released, group revenue increased from N$1.203 billion to N$1.865 billion, while the company moved from a N$150 million loss to an operating profit before tax of about N$106 million. The improvement signals a shift away from losses recorded between 2020 and 2024.
Throughput south of the Veterinary Cordon Fence (VCF) stood at 75,268 head of cattle, while throughput in the Northern Veterinary Area reached 7,844 head.
The recovery follows the implementation of a five-pillar Turnaround Plan focused on financial stability, governance, market development, operational efficiency and producer prices.
Aochamub said the improved performance reflects restored discipline, strengthened controls and renewed credibility within the organisation. However, he cautioned that Meatco remains mindful of climate variability, market dynamics and biosecurity risks.
“Recovery is not an event; it is a sustained process of vigilance and stewardship,” he said, adding that leadership at the company is a collective relay aimed at protecting and strengthening the national strategic asset.
Photos: Meatco
