'No plot against Meatco'
ELLANIE SMIT
WINDHOEK
Reports that high-ranking members of Namibia's livestock production sector are embroiled in a plot to have Meatco liquated have been condemned and denied in a joint statement issued by the Namibia Agricultural Union (NAU) and the Livestock Producers Organisation (LPO).
They were referring to a recent article which said government's timely N$250-million Development Bank of Namibia (DBN) loan guarantee had foiled the alleged plot to bankrupt Meatco and shut its doors.
It was further pointed out that the alleged leaked information was targeted to polarise key roleplayers in government, the Meat Board of Namibia, Meatco, the Namibia National Farmers' Union (NNFU), the Namibia Emerging Commercial Farmers' Union (NECFU), the NAU and commercial and communal farmers north and south of the Red Line.
They said these assertions are nothing more than a smokescreen to hide the alleged mismanagement of assets, and distract from the accumulation of massive debts caused by the drought.
Pushing own agendas
“The LPO will not allow its good name to be linked to individuals pushing their own agendas and the polarisation of key roleplayers.
“The NAU and its affiliated LPO have upheld an untarnished reputation and have proven itself and its loyalty to producers since the NAU was established in 1946,” the statement said.
They said it is important to remember that Meatco went through immense changes in the past year, and only through the intervention of various ministers could the attachment of the corporation's assets be avoided.
It was also pointed out that it has come to light that significant losses may have occurred in the previous financial year, which might lead to further investigations.
“The LPO's alleged role in the commercial banks' refusal to further fund Meatco is unfounded, to say the least. Neither the NAU nor the LPO have ever been involved in any discussion with any commercial bank regarding Meatco.”
No control
They further said the NAU and its affiliates have no control over Meatco's board decisions or any influence in the financing decisions of commercial banks.
“It is a priority to ensure that Meatco functions as an internationally competitive business, able to automatically procure cattle to this value chain through a price-pull mechanism, by paying the best price in the market on a consistent basis.”
If this can be achieved, Namibia's primary livestock production can recover from a period of decline, which has led to scepticism and a lack of mutual trust, they said.
“With the recent appointment of the Meatco board during the annual general meeting in November 2019, in accordance with democratic principles, trust is slowly but surely [being] re-established amid producers.”
WINDHOEK
Reports that high-ranking members of Namibia's livestock production sector are embroiled in a plot to have Meatco liquated have been condemned and denied in a joint statement issued by the Namibia Agricultural Union (NAU) and the Livestock Producers Organisation (LPO).
They were referring to a recent article which said government's timely N$250-million Development Bank of Namibia (DBN) loan guarantee had foiled the alleged plot to bankrupt Meatco and shut its doors.
It was further pointed out that the alleged leaked information was targeted to polarise key roleplayers in government, the Meat Board of Namibia, Meatco, the Namibia National Farmers' Union (NNFU), the Namibia Emerging Commercial Farmers' Union (NECFU), the NAU and commercial and communal farmers north and south of the Red Line.
They said these assertions are nothing more than a smokescreen to hide the alleged mismanagement of assets, and distract from the accumulation of massive debts caused by the drought.
Pushing own agendas
“The LPO will not allow its good name to be linked to individuals pushing their own agendas and the polarisation of key roleplayers.
“The NAU and its affiliated LPO have upheld an untarnished reputation and have proven itself and its loyalty to producers since the NAU was established in 1946,” the statement said.
They said it is important to remember that Meatco went through immense changes in the past year, and only through the intervention of various ministers could the attachment of the corporation's assets be avoided.
It was also pointed out that it has come to light that significant losses may have occurred in the previous financial year, which might lead to further investigations.
“The LPO's alleged role in the commercial banks' refusal to further fund Meatco is unfounded, to say the least. Neither the NAU nor the LPO have ever been involved in any discussion with any commercial bank regarding Meatco.”
No control
They further said the NAU and its affiliates have no control over Meatco's board decisions or any influence in the financing decisions of commercial banks.
“It is a priority to ensure that Meatco functions as an internationally competitive business, able to automatically procure cattle to this value chain through a price-pull mechanism, by paying the best price in the market on a consistent basis.”
If this can be achieved, Namibia's primary livestock production can recover from a period of decline, which has led to scepticism and a lack of mutual trust, they said.
“With the recent appointment of the Meatco board during the annual general meeting in November 2019, in accordance with democratic principles, trust is slowly but surely [being] re-established amid producers.”
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