{"id":44411,"date":"2023-05-08T17:17:22","date_gmt":"2023-05-08T17:17:22","guid":{"rendered":"https:\/\/www.africa-press.net\/namibia\/all-news\/meatco-in-need-of-treasury-bailout-as-schlettwein-reaffirms-that-it-is-insolvent"},"modified":"2023-05-08T18:05:57","modified_gmt":"2023-05-08T18:05:57","slug":"meatco-in-need-of-treasury-bailout-as-schlettwein-reaffirms-that-it-is-insolvent","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/namibia\/all-news\/meatco-in-need-of-treasury-bailout-as-schlettwein-reaffirms-that-it-is-insolvent","title":{"rendered":"Meatco in need of treasury bailout as Schlettwein reaffirms that it is insolvent"},"content":{"rendered":"

Africa-Press – Namibia. <\/strong><\/span>ACCORDING to the Minister of Agriculture, Water and Land Reform, Calle Schlettwein, Meatco has been identified as one of the ministry\u2019s priority areas that needs intervention. The agriculture minister stated that Meatco is currently technically insolvent, with its debts having surpassed its assets.<\/p>\n

Schlettwein made these remarks during the Ministerial Strategic and Annual Planning Workshop held in Swakopmund on May 8, 2023, where managers within the agriculture ministry deliberated and concluded on policies and strategies to consolidate and strengthen their achievements and address their challenges.<\/p>\n

Speaking on planned interventions the ministry has on Vote 37: Agriculture and Land Reform, Schlettwein noted that supporting the reform and sustainability of Meatco as an anchor for market access and price stabilizer for all livestock producers, small and large, in both communal and commercial areas is a key intervention which is needed.<\/p>\n

\u201cWe are working closely with the Treasury and stakeholders for a sustainable future of Meatco and its value creation proposition for the livestock sector. Meatco had the advantage of being a de facto monopoly. This situation has changed since the market forces made the opening of privately-owned abattoirs and beef marketing entities possible. Beefcor, a privately-owned entity, has already surpassed Meatco in cattle slaughtered. SAVANNA Meat, another entity, has been registered, which will increase competition. The result is a sharp decline in market share, which in turn brought about serious loss making. Meatco is currently technically insolvent with its debts having surpassed its assets. A recovery out of own resources and with current structures in place is highly unlikely,\u201d Schlettwein said.<\/p>\n

The minister during the address also highlighted the need for operationalization of the Northern Communal Areas abattoirs and processing facility to unlock market access for communal farmers. He added that this equally implies an acceleration of the complementary value chain activities, quarantine facilities, and feed-lotting to promote optimal utilization of the slaughtering and processing infrastructure.<\/p>\n

For More News And Analysis About Namibia<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Namibia. ACCORDING to the Minister of Agriculture, Water and Land Reform, Calle Schlettwein, Meatco has been identified as one of the ministry\u2019s priority areas that needs intervention. The agriculture minister stated that Meatco is currently technically insolvent, with its debts having surpassed its assets. Schlettwein made these remarks during the Ministerial Strategic and […]<\/p>\n","protected":false},"author":84,"featured_media":44410,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,12],"tags":[234,236,233],"class_list":["post-44411","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-policy","tag-africa-press","tag-africa-press-namibia","tag-namibia"],"yoast_head":"\nMeatco in need of treasury bailout as Schlettwein reaffirms that it is insolvent - Namibia<\/title>\n<meta name=\"description\" content=\"ACCORDING to the Minister of Agriculture, Water and Land Reform, Calle Schlettwein, Meatco has been identified as one of ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/namibia\/all-news\/meatco-in-need-of-treasury-bailout-as-schlettwein-reaffirms-that-it-is-insolvent\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Meatco in need of treasury bailout as Schlettwein reaffirms that it is insolvent\" \/>\n<meta property=\"og:description\" content=\"ACCORDING to the Minister of Agriculture, Water and Land Reform, Calle Schlettwein, Meatco has been identified as one of ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/namibia\/all-news\/meatco-in-need-of-treasury-bailout-as-schlettwein-reaffirms-that-it-is-insolvent\" \/>\n<meta property=\"og:site_name\" content=\"Namibia\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2023-05-08T17:17:22+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-05-08T18:05:57+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/nambia\/sites\/29\/2023\/05\/postQueueImg_1683550059.33.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"577\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/meatco-in-need-of-treasury-bailout-as-schlettwein-reaffirms-that-it-is-insolvent#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/meatco-in-need-of-treasury-bailout-as-schlettwein-reaffirms-that-it-is-insolvent\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/namibia\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Meatco in need of treasury bailout as Schlettwein reaffirms that it is insolvent\",\"datePublished\":\"2023-05-08T17:17:22+00:00\",\"dateModified\":\"2023-05-08T18:05:57+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/meatco-in-need-of-treasury-bailout-as-schlettwein-reaffirms-that-it-is-insolvent\"},\"wordCount\":337,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/meatco-in-need-of-treasury-bailout-as-schlettwein-reaffirms-that-it-is-insolvent#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/nambia\/sites\/29\/2023\/05\/postQueueImg_1683550059.33.jpg\",\"keywords\":[\"africa press\",\"Africa Press-Namibia\",\"namibia\"],\"articleSection\":[\"all news\",\"policy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/namibia\/all-news\/meatco-in-need-of-treasury-bailout-as-schlettwein-reaffirms-that-it-is-insolvent#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/meatco-in-need-of-treasury-bailout-as-schlettwein-reaffirms-that-it-is-insolvent\",\"url\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/meatco-in-need-of-treasury-bailout-as-schlettwein-reaffirms-that-it-is-insolvent\",\"name\":\"Meatco in need of treasury bailout as Schlettwein reaffirms that it is insolvent - 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