Published March 09, 2009 07:57
Meatco Namibia’s Ekwatho financing scheme exceeded its target of 10 000 head of cattle procurement for 2008. To date, financing for more than 15 000 cattle have been approved by participating banks.
The project was officially launched on 20 August 2008 to assist farmers with the bridging capital needed to move from weaner production to ox production and, in the end, add value to their animals. The project is also aimed at addressing Meatco’s declining cattle numbers by increasing throughput at its abattoirs.
Since the beginning of the pilot phase in November 2007, 465 applications were received. Of these, 166 applications to the value of N$56 million have been approved by participating banks. The participating banks are Agribank, First National Bank, Bank Windhoek, Nedbank and Standard Bank.
Of the 15 000 cattle approved, 1 337 cattle have passed through the system and have already been slaughtered. A further 9 005 are currently on the ground; i.e. they have been purchased, fitted with an RFID ear tag (Radio Frequency Identification) and entered into Meatco’s databank.
The aim is to procure at least another 10 000 cattle through the project during 2009.
Although the figures paint a promising picture, actual results will only be known in 2010. Says Project Manager, Mr. Heiner Böhme, “Until all the cattle applied for in 2008 have been fully processed, i.e. approved, bought, reared and delivered to Meatco; we will not be able to know what the real impact of Ekwatho was for that year.”
Interested farmers are welcome to contact the Ekwatho Technical Advisory team at financing@meatco.com.na for more information or to obtain an application form.
The Ekwatho Financing team are equipped with RFID ear tag scanners, electronic scales, weatherproof laptops knows as “tough books” and customized software for immediate and faultless data capturing on the farm.