Meatco settles cattle producer payments

Cattle producers have been paid N$31 million by the Meat Corporation of Namibia (Meatco) over the past two weeks, despite disruptions caused by the foot-and-mouth disease outbreak.

The payments were made to farmers who delivered cattle to Meatco’s Windhoek abattoir between 29 August and 11 September.

Meatco interim chief executive Albertus Aochamub says the company has paid producers in full despite financial pressure caused by the outbreak.

The disease which was detected last month has affected livestock movement, cattle sales and access to export markets.

“Producers are at the centre of Meatco’s business, and we deeply appreciate the confidence and partnership they continue to place in us. During difficult times such as these, our responsibility is not only to protect the business but also to do everything reasonably possible to carry our producers with us,” he says.

Aochamub says Meatco is reviewing its operating costs and other expenses to ensure it can continue paying farmers, service providers and creditors.

He says the company is also taking steps to manage its finances while waiting for livestock movement restrictions to be lifted and normal operations to resume.

“While the operating environment remains uncertain, our focus is clear: protect cash, manage expenditure responsibly and continue meeting our obligations as far as possible. This requires disciplined decisions across the business while we await greater certainty on market access and the resumption of normal operations,” Aochamub says.

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