The Meat Corporation of Namibia (Meatco) has returned to profitability, reporting an operating profit before tax of approximately N$106 million for the financial year ended 31 January 2025, ahead of its Annual General Meeting scheduled for 20 February 2026.
The improvement marks a significant turnaround for the state-owned meat processor, which recorded a loss of N$150 million in the previous financial year.
The recovery comes alongside a sharp increase in group revenue, which rose to N$1.865 billion from N$1.203 billion in the prior period.
Meatco said the improved performance reflects early outcomes from the Board-approved Turnaround Plan adopted in November 2024, aimed at restoring financial stability, strengthening governance and leadership, improving market development and operational efficiency, and supporting producer prices and throughput.
Interim Chief Executive Officer Ambassador Albertus Aochamub said the results signal broader structural changes within the organisation.
“The results we are presenting reflect more than an improvement in numbers; they demonstrate a fundamental shift in how Meatco is governed, managed, and held accountable. Under the Turnaround Plan approved by the Board, we have re-established financial discipline, strengthened internal controls, and restored operational focus. While important work remains, the Corporation has decisively moved away from a cycle of recurring losses and is now on a clear, credible recovery path,” Aochamub said.
Operational indicators also showed improvement during the period under review, with cattle throughput south of the Veterinary Cordon Fence reaching 75,268 head, while throughput in the Northern Veterinary Area stood at 7,844 head, supporting processing volumes and supply recovery efforts.
Meatco acknowledged continued financial support from the Government of the Republic of Namibia, its sole shareholder, including medium-term funding through the national budget framework for the next three financial years.
The corporation said this support remains critical to maintaining institutional stability as governance and operational reforms continue to take effect.
Looking ahead, the company said it remains cautious about climate variability and its potential impact on livestock supply, citing mixed rainfall patterns during the 2026 season and the possibility of localised dry conditions in 2027.
Meatco said it continues to engage closely with producers and apply flexible sourcing strategies to manage potential supply risks.
The upcoming AGM will formally present the audited financial results and provide stakeholders with a detailed update on governance progress and the next phase of the corporation’s recovery strategy, as Meatco seeks to reposition itself as a stable participant in Namibia’s livestock value chain.
