Cabinet orders Meatco to credit ex-CEO for revenue spike

Cabinet has directed the agriculture ministry to ensure that former Meatco chief executive Mwilima Mushokabanji is formally credited for the state-owned company's 55% revenue increase after his name was omitted from its 2024/25 annual report.

Meatco's revenue increased from N$1.2 billion in 2023/24 to N$1.87 billion in 2024/25, representing a year-on-year increase of about N$670 million.

Mushokabanji led Meatco from February 2020 until 31 January 2025.

Although the financial year under review largely fell within his tenure, the corporation's 128-page integrated annual report does not refer to him.

Instead, it credits the board, former acting chief executive Patrick Liebenberg, employees and the executive team for implementing Meatco's turnaround plan.

Following the omission, Cabinet adopted a resolution on 28 April, shared with the agriculture ministry on 5 May, instructing agriculture minister Inge Zaamwani to amend the report before it is tabled in the National Assembly.

The resolution, seen by Namibian Sun, instructs the minister to ensure that the former CEO be recognised for his "outstanding performance in respect of the 55% increase in revenue”.

Tenure praised

A Namibian Sun review of Meatco's 2024/25 integrated annual report confirmed there is no mention of Mushokabanji anywhere in the document.

Liebenberg is listed as acting chief executive officer and executive for livestock procurement and production and authored the acting CEO's report.

In the report, he credits those he says contributed to Meatco's recovery but does not acknowledge Mushokabanji.

"I thank Meatco's employees and executive team for delivering under constraint, the board for firm oversight and strategic guidance, and the shareholder, the government of the Republic of Namibia, for its continued support," Liebenberg wrote.

In October last year, Prime Minister Elijah Ngurare defended Mushokabanji's tenure in parliament, saying the corporation's problems predated his appointment.

"The difficulties encountered by Meatco are rooted in long-standing structural and operational inefficiencies that predate Mr Mushokabanji's tenure," the PM noted at the time, adding that it was during the former CEO's "tenure that many of these contractual anomalies and unsustainable pricing arrangements were brought to light".

Asked what prompted Cabinet's intervention and whether the directive has been implemented, Zaamwani declined to elaborate.

"Please direct your query to the Secretary to the Cabinet. I am not authorised to speak on Cabinet matters," she told Namibian Sun on Saturday.

Questions sent to Meatco deputy board chairperson Stephanie de Klerk went unanswered.

Mushokabanji also declined to comment.

"Thank you for your enquiry on this matter. I am not able to comment on the issue at this stage," he said.

From loss to profit

Besides the 55% increase in revenue, Meatco reported a turnaround from a N$150 million loss in 2023/24 to a profit before tax of N$106 million in 2024/25.

The corporation slaughtered 75 268 cattle during the year under review, exceeding its operational break-even threshold, while paying more than N$1.17 billion to livestock producers.

Revenue from direct beef sales at Meatco's Windhoek abattoir increased to N$1.514 billion from N$1.203 billion the previous year.

International markets accounted for 84% of total beef revenue, while export revenue increased by 20%.

Operations in the northern communal areas recorded a N$27.5 million loss, compared with a N$17.3 million loss the previous year, despite revenue rising from N$43.5 million to N$119.1 million.