Namibia’s Meatco returns to profit as revenue rises to US$104M ahead of AGM

NAMIBIA – The Meat Corporation of Namibia will head into its 20 February 2026 Annual General Meeting reporting a return to profit after five consecutive loss-making years, with preliminary figures showing revenue for the year ended 31 January 2025 climbed to N$1.865 billion (US$103.6 million) from N$1.203 billion (US$66.8 million) in the previous financial period.

The company said it generated an operating profit before tax of around N$106 million (US$5.9 million), reversing a loss of N$150 million (US$8.3 million) recorded a year earlier.

Audited financial statements and an update on the Board-approved Turnaround Plan will be tabled at the AGM as shareholders review the company’s financial position and reform agenda.

Interim chief executive officer Albertus Aochamub stated that the latest results reflect adjustments in financial management, internal oversight and operational processes introduced under the restructuring programme adopted in November 2024.

The Turnaround Plan is organised around five areas: restoring financial stability, revising governance and leadership structures, expanding and refining markets, improving operational efficiency, and addressing producer prices and throughput levels.

During the reporting period, cattle processed south of the Veterinary Cordon Fence reached 75,268 head, while facilities in the Northern Veterinary Area handled 7,844 head, indicating higher activity compared with earlier cycles.

The company also confirmed continued backing from the Government of the Republic of Namibia, its sole shareholder, including medium-term allocations within the national budget framework for the next three fiscal years.

Norway export quota completed

In October, Meatco reported that it had fulfilled its 2025 beef export commitment to Norway by shipping the full 1,200-tonne quota permitted under the European Free Trade Agreement between the Southern African Customs Union and Norway.

The final consignment departed in the last week of the programme, closing Namibia’s allocation to a market that contributes more than 20% of the company’s annual revenue.

To meet the quota requirements, the company dispatched 45 shipments totalling 1,153.5 tonnes in accordance with Norway’s quota conversion rules for high-grade beef exported duty-free into the European market.

Aochamub said Norway remains central to Meatco’s export strategy and continues to provide a stable outlet for Namibian producers.

Looking ahead, the corporation indicated it is monitoring rainfall variability during the 2026 season and possible dry conditions in 2027, while maintaining engagement with producers and adjusting sourcing plans to manage potential livestock supply constraints.

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