Nearly N$20 million has been contributed to Meatco’s Ekwatho financing scheme to help farmers raise slaughter oxen.
With the AgriBank of Namibia and all four commercial banks onboard, Ekwatho Manager, Heiner Böhme, said that this scheme would soon be rolled out to communal areas.
Böhme also said that a technical team has been established to investigate the workability of the scheme in communal and resettled areas. Ekwatho is achieving its targets of creating value locally, together with increasing throughput at Meatco’s abattoirs.
Since this scheme has been launched in November 2007, around 16 000 cattle have been obtained. Ekwatho was launched to counter the large number of weaner calves that leave Namibia for feedlots in South Africa. All at the same time increasing throughput at Meatco’s abattoirs.
The technical team has to compare the data from Meatco’s records. This is done to determine the risks and limit them for the producer. Not all areas in the country is suitable for ox production and according to Böhme, Ekwatho’s technical team will monitor the cattle on a quarterly basis.
Four to five communal and resettled farmers have been identified for a trail run in the Okamatapati and Otjituuo communal areas to be conducted. These farmers will be visited from today until 22 July to weigh the cattle. They will enter their own financing and no bank will be involved.
Ekwatho plans to apply for funding through the Meatco Foundation. This is especially to assist the communal and resettled farmers. Böhme added that donor funding could reduce the risk factor to the participating bank.
The scheme assists producers to obtain the bridging capital that is needed to grow their weaners into slaughter oxen. Participants sign a contract that binds them to deliver 98% of the contracted number of cattle to Meatco.
To date there have been 769 applications. Application forms are available at Meatco’s Head Office in Windhoek or financing@meatco.com.na and telephonically at 061 – 321 6446.
