Meatco: No 'dramatic promises' needed, only consistent execution
Looking ahead, the deputy chairperson of Meatco’s board, Stephanie de Klerk, said the company will avoid “speculative expansion” and instead focus on ensuring the business is positioned for sustainable growth.
“Meatco does not need dramatic promises. It needs consistent execution,” she said at the annual general meeting on Friday, 20 February, addressing its shareholders, represented by the Ministry of Finance, and “most importantly, our producers, whose trust remains the cornerstone of Meatco’s existence”.
She assured stakeholders that the board is not complacent, even if its work is “not always visible from the outside”.
While efforts to rebuild trust across all stakeholder groups may not always be seen, De Klerk said that over the past year, the board strengthened governance structures, improved risk management, ensured compliance with government legislation and upheld industry principles. Transparency and accountability, she stressed, are non-negotiable.
Turnaround plan yielding results
De Klerk explained that the board-approved turnaround plan is already delivering tangible results, moving the corporation from a period of instability to one of recovery.
Meatco successfully transitioned to a profit before tax of N$105 million for the 2024/25 financial year. This recovery was supported by a 55% increase in group revenue, which rose to N$1.87 billion. A total of 83 112 animals were slaughtered across the system, and N$1.13 billion - nearly 67% of cost of sales - was paid directly to producers.
This progress, she said, was achieved through a disciplined focus on four strategic pillars: market development, operational efficiency, consistent throughput and financial sustainability. By making “hard decisions” and avoiding shortcuts, Meatco has “moved from instability to recovery”, De Klerk noted.
Beyond the numbers
The activation of the Eenhana, Outapi and Ongwediva facilities has expanded access for communal producers, helping to ensure that the financial turnaround benefits the wider livestock sector.
De Klerk concluded that these results go beyond accounting improvements, representing “cash flowing back to farms” and a renewed confidence in Meatco’s long-term sustainability.
