The money is expected to have a positive impact on the Namibian meat industry following veterinary restrictions imposed by recently
Since the new regulations were imposted on the import of weaners, the Namibian beef production sector is in a depressed condition.
The money will be used to fund, what Meatco calls 'Backwards Integration Strategy'. With this strategy the company aims to address current marketing and animal productions problems faced by the meat industry.
Meatco's strategy will focus on adding value to beef by purchasing weaners from local farmers and raising them to slaughter age cattle on feedlots.
126 400 WEANERS
Meatco said it intends to add value to 126 400 weaners. Instead of exporting live on the hoof, the cattle will be slaughtered and processed locally for export, the company said.
"The packaged cuts, which reduce the requirement to export live cattle, will also give Meatco greater capability to export beef to markets other than
Meatco said N$150 million will be used to fund procurement from local farmers, and that N$50 million will be used to develop satellite feedlots at Gobabis and Otavi.
"An additional 538 direct employment opportunities will be created by Meatco as a result of finance," the DBN said.
Meatco's Okapuka feedlot buys more than 25 000 weaners annually and raises them to slaughter ox
"We tested many of these approaches through pilots and the 'Backwards Integration' project has been in full swing since last year, with a target to locally add value to 126 400 weaners through these initiatives. The timescale to reach this target is five years, but with the restrictions imposed by the South African authorities for the export of weaners from
Poolman said this is an opportunity for
"That capacity needs to be created, but it will not happen overnight," he said.
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