Meatco last Wednesday held high-level talks with Arab Bank for Economic Development in Africa (Badea) president Abdullah al-Musaibeeh to explore potential investment and financing opportunities aimed at strengthening Namibia’s beef value chain and export capacity.
According to a statement issued by the parastatal, the engagement is part of Badea’s broader mandate to strengthen partnerships with African institutions and support sustainable economic development through targeted development finance.
The Meat Corporation of Namibia (Meatco) has faced severe financial challenges over the past four years, including consecutive losses, high debt levels, reduced slaughter volumes, and reliance on state bailouts.
Early this year, the state entity said it had recorded an operating profit before tax of about N$106 million after it posted a N$150 million loss in the previous period.
The statement says the discussions focused on enhancing Namibia’s export competitiveness, particularly in premium markets such as the Gulf Cooperation Council (GCC), while deepening value addition and strengthening food security outcomes.
Badea, a development finance institution operating across trade finance, public sector, and private sector support, reaffirmed its commitment to identifying bankable opportunities that deliver both commercial returns and developmental impact.
Meatco interim chief executive Albertus Aochamub underscored the strategic importance of aligning investment with Namibia’s long-term agricultural and industrialisation objectives.
“This engagement signals a shift from dialogue to delivery, mobilising development finance to unlock Namibia’s full livestock value chain,” Aochamub says.
Meatco presented three priority investment opportunities aligned with its turnaround strategy and national development priorities.
Atop the list was the revival of the small stock abattoir with a targeted capacity of up to 1 000 animals per day.
The facility is expected to service key markets in the European Union and the Middle East, while supporting job creation and sustainable revenue generation in Namibia.
Meatco also needs funds to extend its tannery operations where it currently processes hides to the Wet Blue stage.
The needed capital injection will enable further local beneficiation, unlocking higher-value export opportunities, strengthening small and medium enterprise participation, and supporting communal farmers and rural economies.
In addition, the state-owned company wants to reactivate cannery operations which are currently non-operational due to obsolete technology, but if modernised can support national food security objectives.
“Once operational, the cannery will supply protein products to public institutions such as schools, hospitals, and correctional facilities, while contributing to local value addition,” the statement reads.
Aochamub says Meatco was a national asset and a catalyst for inclusive economic growth, particularly in rural areas where livestock production remains a critical livelihood.
“We are not just exporting beef, we are exporting value, jobs, and a globally competitive Namibian brand into premium markets,” he says.
“These are catalytic projects, each designed to drive growth, strengthen food security, and advance inclusive rural development,” Aochamub adds.
Both parties agreed to clearly define the next steps towards investment structuring, feasibility alignment, and mobilisation of funding to operationalise the identified projects. – email: matthew@namibian.com.na
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