29 Jun 2015

Meatco held its 29th Annual General Meeting (AGM) this Friday on, 26 June 2015. The AGM took place amidst the many challenges that the Livestock Industry finds itself. The Corporation under the leadership of Martha Namundjebo-Tilahun as Board Chairperson converged at Wanderers Sports Club in Pionieerspark, Windhoek, at 09h00.

Namundjebo-Tilahun, outlined the challenges the industry is finding itself “the lingering effect of the 2013 drought has been compounded by the current drought which has become a national crisis which saw the Government respond with an N$350 million allocation livestock incentive scheme, fodder subsidies, subsidisation of leased grazing amongst other thing”.

The Chairperson cautioned the members that “It is clear to all of us that our industry is in a crisis and it will be to our detriment if we don’t apply our minds as well as interrogate everything that is presented to us as the implications of the contrary all of us and our livelihoods cannot be ignored”.

Namundjebo-Tilahun, announced that the Minister of Agriculture, Water & Forestry Honourable John Mutorwa has confirmed that Government will take 30% stake in form of equity at Meatco.

Namundjebo-Tilahun, assured the members under her leadership “I will share with members Corporation the developments and I do this for transparency, as all these are major issues which have a material impact on you, the Meatco members”.

At the AGM, Chief Executive Officer Advocate Vekuii Rukoro, highlighted the company’s performance for the financial 2014/2015. Rukoro indicated that the Corporation successfully recorded increased revenue by 14.61% mainly due to the additional Norway quota and weakening of Namibian dollar against other foreign currencies. Rukuro, reported to the Corporation members that Meatco “commenced with Backwards Integration Projects – namely Meatco Owned Cattle (MoC), Contract Feeding Scheme and Feedlot expansion.”

Other key component Rukoro indicated was “Management focused on stabilising prices during the year for more effective planning purposes”.

It is thus, important to focus on “declining production needs to be addressed in order to ensure efficiencies and ongoing focus on improving stakeholders relations and building mutual confidence with government, producers, employees as well as customers” reiterated Rukoro.

In total Meatco slaughtered 116,771 (2013/14: 116,912) cattle during the reporting year. Only 141 animals fewer than, the previous reporting year, representing less than a 1% decrease.

In conclusion, Rukoro indicated that the “recent Food-and-Mouth Disease is a threat to the Meat Industry and has caused the closure of Katima Mulilo and Oshakati abattoirs to remain closed for a much longer period than planned for this year.”