The Meat Corporation of Namibia (Meatco) earned 84% of its revenue from international markets in the 2024/25 financial year, according to its latest annual report.
“Even though the international market consumed 47% of the total beef sales volume, the company realised 84% of its total beef revenue from the international market,” the report says.
Eighty percent of international revenue came from the European Union market, 18% from Norway, and 2% from China.
Namibia in 2024/25 received 75% of the Norwegian quota (equivalent to 1 200 tonnes).
Former chief executive Mwilima Mushokabanji last year told Windhoek Observer that Meatco’s new operational profitability could be attributed to the Norwegian quota. In the previous financial year, Meatco reported a net loss of N$150 million.
Mushokabanji last January said that he travelled to Norway in November 2024 to manage stakeholders after a decline in market conditions.
The report for 2024/25 explains that Norwegian sales prices declined due to a surplus of frozen beef from Botswana.
“Overall, Meatco managed to secure a decent price for its beef in the international and regional markets,” the report says. This is despite a slight decline in realisation prices for all international markets.
Over the course of the year, Meatco earned N$1.514 billion in direct sales from their Windhoek factory. The company slaughtered 75 268 head of cattle and sold 24 566 metric tonnes of beef.
Reporting on their 2023/24 exports, the company said it had exported 9.05 million kg of beef to the European Union, 3.18 million kg to South Africa, 1.99 million kg to the United Kingdom, and 1.28 million kg to China.
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