It has come to light that Meatco has been selling its products at significantly cheaper prices on the international market compared to its local competitors.

The company is bleeding financially and is being bailed out by the government regularly.

The Bank of Namibia, in a damning report to the Minister of Finance and Public Enterprises, estimates that Meatco's revenue was N$4 billion less than its local competitors, which export meat to the same market, between 2018 and 2023.

President Hage Geingob has visited Namibia's first state-of-the-art green hydrogen plant, refuelling station, and hydrogen academy at Walvis Bay.

Dr. Geingob arrived at the N$4 billion facility, located a few kilometres from the Walvis Bay International Airport.

The initiative is a joint venture between local companies Ohlthaver and List (O&L) Group and Belgium's CMBT Tech.

O&L Group Director for Innovation, Eike Krafft, explained to the president that construction has started following a groundbreaking ceremony last week.