#JustIn: Meatco undertakes to pay farmers now
Meatco says it has experienced cash flow problems due to delays in obtaining clearance for shipments.
This is allegedly the reason why the meat factory fell into arrears with payments to cattle producers and could not pay them within 30 days.
The delay was caused by "high volumes and changes in essential logistics documentation and processes", Meatco said in a media release.
This comes after Meatco producers said at the recent Livestock Producers Association (LPO) congress in Windhoek that the company owes them between N$300 million and N$350 million and is in arrears for up to 80 days.
Meatco says the delay in the clearances for shipments has now been resolved.
"All documents have now been shared with customers, shipments have received clearance and Meatco is in the process of catching up with producers' overdue payments," the statement said.
Meatco used the opportunity to remind producers that Namibia, through Meatco, is the only country in Africa that can export to markets such as Norway, China, America and the rest of Europe.
"Meatco deftly manages access to the markets by complying with strict international audit requirements. This is proof that Meatco has a competent and functional management team that provides leadership and strategies," the statement said.
This is allegedly the reason why the meat factory fell into arrears with payments to cattle producers and could not pay them within 30 days.
The delay was caused by "high volumes and changes in essential logistics documentation and processes", Meatco said in a media release.
This comes after Meatco producers said at the recent Livestock Producers Association (LPO) congress in Windhoek that the company owes them between N$300 million and N$350 million and is in arrears for up to 80 days.
Meatco says the delay in the clearances for shipments has now been resolved.
"All documents have now been shared with customers, shipments have received clearance and Meatco is in the process of catching up with producers' overdue payments," the statement said.
Meatco used the opportunity to remind producers that Namibia, through Meatco, is the only country in Africa that can export to markets such as Norway, China, America and the rest of Europe.
"Meatco deftly manages access to the markets by complying with strict international audit requirements. This is proof that Meatco has a competent and functional management team that provides leadership and strategies," the statement said.
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