Meatco ownership issue ongoing

Dealing with Meatco’s ownership is not a straight-forward issue, according to the government.

28 February 2018 | Agriculture

Bear with us as we tackle these things. – Leon Jooste, SOE Minister

Ogone Tlhage - Public enterprises minister Leon Jooste says the government is expected to announce its position with regards to its ownership in Meatco in due course.

He however would not give a timeline about the decision and only said the ownership issue was receiving necessary attention.

He made the comments at a public enterprises CEO meeting held this week.

During a questions and answers session held at the forum, Meatco board member Ronald Kubas asked Jooste about Meatco’s ownership and said the board needed to be informed on the way forward.

Responding to Kubas’ query, Jooste said the government was attending to the issue and informed him that it was not a straight-forward matter.

“This is an issue of hot potatoes,” Jooste responded to the query.

“The long-term issue is what should government’s role be, how do we come in, where do we come in … these are ongoing discussions,” Jooste said.

“We are not yet at a place where we can make a decision just yet. We will tackle the issue from time to time,” he added.

He asked Meatco stakeholders for more time as the government studies its position.

“Bear with us as we tackle these things,” Jooste said.

Results

Meatco chairperson Martha Namundjebo-Tilahun in 2015 announced that government would take up 30% stake in the form of equity, it was reported in the media.

The government’s vying for a stake in the company is because the meat industry has been declared a strategic sector that is dependent on weather and climate change.

Meanwhile, the Meatco Group recorded revenue of N$1.6 billion for its 2016/17 financial year, 6.2% down on the previous financial year. The corporation recorded revenue of N$1.687 billion – 6.3% down on the previous reporting period.

A total of N$899 million, about 53% of Meatco's total revenue, was paid out to producers.

Similar News

 

Things to consider when buying seed

15 hours ago | Agriculture

ELLANIE SMITWINDHOEKSeeds are an essential input resource that a farmer must procure to successfully grow crops.Agribank’s technical advisor for crops and poultry, Hanks Saisai, says...

NAU urges Ombudsman to investigate uranium exploration

15 hours ago | Agriculture

ELLANIE SMITWINDHOEKThe Namibia Agriculture Union (NAU) recently paid a courtesy visit to the new Ombudsman, Basilius Dyakugha, to update his office on the union’s vision...

Potatoes are Namibia’s favourite vegetable

15 hours ago | Agriculture

ELLANIE SMITWINDHOEKPotato is the most consumed horticultural produce in Namibia, with more than 33 000 tonnes traded through the formal market during the 2018/2019 financial...

Record year for Agra

15 hours ago | Agriculture

ELLANIE SMITWINDHOEKAgra has recorded its best financial performance ever, despite the recent drought and challenges of the Covid-19 pandemic.According to a media statement, Agra had...

Land use plan being developed for Oshana

1 day - 01 December 2021 | Agriculture

ELLANIE SMITWINDHOEKThe agriculture ministry has finalised integrated regional land use plans (IRLUPs) for seven regions and is now starting to develop the plan for the...

NAB aims for 60% local horticulture production

2 days ago - 30 November 2021 | Agriculture

ELLANIE SMITWINDHOEKThe Namibian Agronomic Board (NAB) aims to reach 60% of local horticulture production by 2025.The Namibian annual horticultural demand also increased from 65 113...

Above-average rainfall harbours risks

1 week ago - 25 November 2021 | Agriculture

ELLANIE SMIT WINDHOEKWith above normal rainfall predicted for the most of Namibia during the rainy season, cognisance should be taken of the...

Imports threaten local egg producers

1 week ago - 25 November 2021 | Agriculture

ELLANIE SMIT WINDHOEK The egg sub-sector has lately come under threat by an influx...

The basics of poultry farming

1 week ago - 25 November 2021 | Agriculture

ELLANIE SMIT WINDHOEKThe right environment and prudent management are necessary preconditions for farming successfully with poultry.Agribank’s technical advisor for crops and...

Agribank accommodates farmers

1 week ago - 25 November 2021 | Agriculture

ELLANIE SMIT WINDHOEK Agribank collected more than N$360 million through its accommodative loan collection approach during the 2020/2021 financial year.The bank has...

Latest News

10 apprehended in exam leak

15 hours ago | Education

ESTER KAMATI WINDHOEKAt least 10 individuals have been taken into custody by the Namibian Police after examination papers were leaked ahead of...

Man who cooked wife in...

15 hours ago | Justice

JANA-MARI SMITH WINDHOEKA hearing to decide whether former chef Thomas Adolf Florin (54) – the man who butchered and cooked the...

Game of musical chairs

15 hours ago | Politics

STAFF REPORTER WINDHOEKThe Popular Democratic Movement (PDM) and Affirmative Repositioning’s (AR) 11th-hour announcement yesterday...

Global airlines prepare for Omicron

15 hours ago | Business

JAMIE FREED AND RAJESH KUMAR SINGHAirlines are bracing for a fresh round of volatility due to the Omicron variant of Covid-19 that could force them...

Omicron variant could outcompete Delta

15 hours ago | Economics

ALEXANDER WINNINGThe Omicron coronavirus variant detected in southern Africa could be the most likely candidate to displace the highly contagious Delta variant, the director of...

EDITORIAL: We must fight together

15 hours ago | Opinion

Once again, the flimsy sense of control humans love to think they have over the world and their environment has been brought to a sharp...

Covid-19 undercuts HIV fight

15 hours ago | Health

JEMIMA BEUKES WINDHOEKThe latest World Aids Day report has cautioned that the curves...

SPYL welcomes public enterprise ministry’s...

15 hours ago | Politics

ESTER KAMATI WINDHOEKThe Swapo Party Youth League (SPYL), which convened in Grootfontein over...

Things to consider when buying...

15 hours ago | Agriculture

ELLANIE SMITWINDHOEKSeeds are an essential input resource that a farmer must procure to successfully grow crops.Agribank’s technical advisor for crops and poultry, Hanks Saisai, says...

Load More