Renthia Kaimbi
Appointing ambassador Albertus !Aochamub as the new chief executive officer of the Meat Corporation of Namibia (Meatco) will be a disaster for business, analysts have warned.
They argue that while his diplomatic and political skills are undisputed, they do not align with the urgent business acumen required to rescue the cash-strapped corporation.
Corporate governance expert Johan Coetzee said !Aochamub may be a politically suitable choice but lacks the financial and operational background needed to turn Meatco around.
On Monday, the Meatco board endorsed !Aochamub as the company’s interim chief executive officer (CEO), a move confirmed by the board’s deputy chairperson, Stephanie de Klerk.
The board was reportedly seeking someone with the “capacity” to address the challenges facing Meatco.
On the same day, Namibia Daily News reported that President Netumbo Nandi-Ndaitwah had recalled !Aochamub from his ambassadorial post.
However, the office of the President dismissed the report, stating that the matter had not been confirmed.
“I think he’s the correct person to smoothen political tensions within Meatco… with that, I think he’s the right appointment, but from a business point of view and long-term sustainability of the agricultural sector… I think it will be a disaster,” Coetzee said.
Coetzee said !Aochamub might help ease tensions around the contentious Red Line debate but warned it will not solve the corporation’s chronic unprofitability.
“He is probably better suited for public service and office as compared to business situations. He’s got the skills and experience for political office, but he’ll be another political appointee in a business-related position that will, from a diplomatic and political perspective, smoothen the situation in a very controversial Meatco due to political interference,” Coetzee said.
He highlighted years of ministerial interference in board appointments, inefficiencies, and corruption as reasons farmers left to form Savanna Beef.
“The farmers don’t feel that they get market-related prices,” he added.
He said Meatco has consistently failed to use its export quotas and is not generating sustainable profits.
“You cannot appoint a diplomat in such a position if you want business results,” he stated.
!Aochamub was appointed Namibian ambassador to France in 2018.
Prior to that, he served as director general of the Namibia Broadcasting Corporation, chief executive of the Namibia Airports Company (NAC), and spokesperson for President Hage Geingob.
As ambassador to France, he also extended his responsibilities to Portugal, Spain, Italy, and the United Nations Educational, Scientific, and Cultural Organisation (UNESCO).
Economist Josef Sheehama disagreed, welcoming the potential appointment.
“Although ambassador Albertus !Aochamub’s appointment is speculated, if it is true, this should be an excellent appointment because he is extremely good, and I believe he will revolutionise Meatco. This is not his first time as CEO; he has led MTC and NBC,” Sheehama said.
He argued that !Aochamub’s diplomatic background gives him an advantage in international markets.
“His selection as ambassador will make a significant contribution by focusing on preserving and cultivating links between trade countries since he has worldwide exposure and a better understanding of international trade, as well as the ability to catch those countries that are not buying from us.”
Sheehama called the possible appointment a calculated move to use diplomatic skills to boost the economy.
But he cautioned that the CEO must be allowed to operate independently.
“Development planning and implementation from short-term to long-term should not be politicized,” he warned.
Meatco has faced years of financial strain. Between 2020 and 2022, its cattle slaughter numbers fell by 68% and revenue dropped by 58%.
A partial recovery came in 2024 with 65 427 cattle slaughtered, generating N$1.2 billion in revenue.
Still, losses continue. In the 2022/23 financial year, Meatco recorded a N$118 million loss.
The government has spent around N$730 million bailing out Meatco over the past four years. Of this, N$519 million went to repay Development Bank of Namibia loans, while N$211 million supported operations.
The company has also been hit by mismanagement, theft and leadership instability.
In July, acting CEO Patrick Liebenberg was suspended pending an investigation, weeks before his six-month term was due to end.
His suspension followed the board’s earlier decision not to renew the contract of former CEO Mwilima Mushokabanji.
This year, board chairperson Sakaria Nghikembua resigned in June, saying he was pressured to carry out illegal instructions.
At the back of it, around 400 cattle reportedly disappeared from the Linden Beef Feedlot.
