Meatco wants out of SOE list

The meat processing company, Meatco has applied that it be taken off the State Owned
Enterprise (SOE) list on which the company says it was placed without proper consultations. Meatco was formed as a corporation with a loan from government in 1986 to stabilise the beef industry and does not have owners but have members who are described as producers who slaughter cattle at Meatco within a two year period under the Meatco Act of 2001.

Meatco spokesperson, Uschi Ramakhutla told the Economist this week that once the company has succeeded to get itself off the SOE list, it will investigate a suitable business structure but will still be 100% owned by Namibian producers. “This is something that will take research and lots of consultation to ensure that all producers are well represented and well informed,” said Ramakhutla. She said recent press reports that the government was planning to privatise the company was not true as the minister of agriculture, water and forestry, Nicky Iyambo was misquoted. “The minister has in fact said that government has no interest in Meatco except to see that Meatco services all producers in Namibia and not a select few as the perception is currently,” said Ramakhutla.

In its annual report ending 31 January this year, Meatco said it expects shipments of beef to the European Union to fall this year because of the strength of the Namibian dollar and health regulations. In the 12 months to January 31 this year, Meatco exported 76% of its 13,000 metric-ton export quota to the EU. It exported 17,127 tons of beef to South Africa during the year.