11 Jun 2020

Acting chief executive officer of Botswana Meat Commission (BMC), Dr  Boitumelo Mogome-Maseko says they are  finalising the turn-around strategy for the commission.

Briefing the media in Gaborone on June 10, she said an Ireland based management company called IDI had been roped in to help with the strategy.

Dr Mogome-Maseko said structuring details were ongoing on how best to maximise operations of the commission to ensure optimal capitalisation of all assets.

She noted that the strategy would be targeted towards operational capacity, policy, governance and other functions to ensure that it was sustainable as the billion Pula industry it had turned into during the past six years.

Dr Mogome-Maseko also said they were engaged in negotiations with attractive markets such as those in China and the United States whose buying power would mean greater revenues for the commission.

Meanwhile, the chief finance officer of BMC, Mr Limited Nkani said the company’s performance had been sub-par for the first quarter of the year generating revenues of P86.5 million as opposed to the P133.7 million for the same quarter last year.

Mr Nkani said their most profitable markets, which include the European Union, had been severely depressed by the COVID-19 pandemic which reduced their demand for beef.

He added that it had impacted on the realisation of revenues, especially as the commission had to scale down operations during the pandemic.

He noted that the biggest demand for beef during the world-wide lockdown had been in the Norwegian countries whose demand was served.

Mr Nkani further said as the markets opened they would resume full operation and take cattle from farmers at full capacity.

He said they had managed to pay P15.2 million to farmers for their cattle while other remaining payments would be gradual, forbearing realisation of revenues which were forecasted to be low as the markets begin to open up.

He, however, said BMC was currently in negotiations with financial institutions on implementing a factor-in payments strategy to ensure they paid farmers well on time. Ends