Finance leaders want to give Meatco N$212 million next year to clear bank debt and boost cash flow. Finance Minister Ericah Shafudah told lawmakers that this money aims to fix the meat company's financial troubles. The cash will pay off what Meatco owes to the Development Bank of Namibia and help daily operations run better.
Meatco will also receive an extra N$100 million to support its business needs. This cash helps the company compete better and reach more markets with its meat products. The government hopes these funds will improve Meatco's farm product sales performance.
The government plans to spend N$2.5 billion in total on public companies and youth programs next year. This latest help follows a N$200 million loan Meatco got from DBN last year with government backing. Back then, Meatco struggled to pay 245 farmers about N$320 million for cattle they delivered to slaughterhouses.
The state has given Meatco over N$1 billion during the past four years. Many people worry about whether the company can turn things around despite all this money. Past finance leaders said Meatco must learn to make its money without always asking for government help.
Meatco will also receive an extra N$100 million to support its business needs. This cash helps the company compete better and reach more markets with its meat products. The government hopes these funds will improve Meatco's farm product sales performance.
The government plans to spend N$2.5 billion in total on public companies and youth programs next year. This latest help follows a N$200 million loan Meatco got from DBN last year with government backing. Back then, Meatco struggled to pay 245 farmers about N$320 million for cattle they delivered to slaughterhouses.
The state has given Meatco over N$1 billion during the past four years. Many people worry about whether the company can turn things around despite all this money. Past finance leaders said Meatco must learn to make its money without always asking for government help.
