Namibia’s Meatco reaches 45.2% of Norway beef quota by April as financial recovery continues
Turnaround plan coincides with return to profitability after five years of losses
NAMIBIA – The Meat Corporation of Namibia has reported that it had utilised 45.2% of its annual beef export allocation to Norway by 17 April, signalling a faster pace of shipments compared to previous years.
The company said it had exported 521,017.59 kg of premium beef out of its total yearly quota of 1,153,477 kg, according to figures shared on its official communication channels on Tuesday.
This level of utilisation marks an increase from the same period in earlier years, when the company recorded 29.2% in 2024 and 23.4% in 2025, reflecting a shift in how early it accesses the Norwegian market.
Interim chief executive Albertus Aochamub stated that the higher export volumes reflect changes in how the company approaches market access and supply planning at the start of the year.
He added that the company’s current approach focuses on securing opportunities earlier in the trading cycle rather than reacting later in the year.
Financial recovery and operational changes
The export update follows earlier disclosures that Preliminary figures indicate that revenue for the financial year ending 31 January 2025 rose to US$103.6 million from US$66.8 million recorded in the prior period.
The company also reported an operating profit before tax of approximately US$5.9 million, compared to a loss of US$8.3 million a year earlier.
Management attributed the change in performance to adjustments in financial controls, governance structures and operational processes introduced as part of a restructuring programme launched in November 2024.
The turnaround strategy focuses on financial stability, governance reforms, market development, operational efficiency and pricing and throughput improvements for producers.
During the period under review, Meatco processed 75,268 cattle south of the Veterinary Cordon Fence and 7,844 cattle in the Northern Veterinary Area, indicating increased activity levels.
The company also confirmed continued financial support from the Namibian government, which remains its sole shareholder and has allocated funding over the next three fiscal years.
Norway remains key export destination
In a previous update, Meatco reported that it had fully met its 2025 export quota to Norway by shipping 1,200 tonnes of beef under the European Free Trade Agreement framework.
The shipments were carried out through 45 consignments totalling 1,153.5 tonnes, meeting the quota requirements for duty-free access into the European market.
Norway continues to account for more than 20% of Meatco’s annual revenue, making it one of the company’s primary export markets.
Looking ahead, the company said it is monitoring weather patterns in 2026 and potential dry conditions in 2027 while adjusting sourcing plans to address possible livestock supply challenges.
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