The Meat Corporation of Namibia (MeatCo) is on its knees and calling for intervention to save its market share.

Chief Executive Officer Mwilima Mushokobanji says the state-owned entity has been grappling with a massive fall in its market share owing to the underutilization of its abattoirs.

Mushokobanji revealed this to the Parliamentary Standing Committee on Economics and Public Administration during a consultative meeting with the management of the parastatal.

The Kavango East and West regional councils are happy with the prospects of livestock marketing following the opening of the Rundu Abattoir.

The Meat Cooperation of Namibia's bid to manage the government abattoir was successful, and it is currently testing slaughter at the facility.

Meatco held a consultative meeting with the leadership of the two regions and with farmers at Rundu to hear their expectations.

Kavango East Chairperson Damian Maghambayi is happy that the long-awaited reopening of the abattoir could bring business and job opportunities for residents.

MeatCo says it has introduced a number of reforms and restructuring to remain afloat, despite natural calamities which affected the livestock sector.

Its Chief Executive Officer Mwilima Mushokobanji was responding to a recent remark by Agriculture, Water and Land Reform Minister Carl Schleittwein who described the state-owned meat processing and marketing entity as being in an ICU.

Schlettwein made this remark during his staff address in Windhoek.

Meatco has introduced strategies to improve its performance and income by exploring new export markets for the country's meat and meat products.

The state-owned company has been swimming in debt over the last few years and has been operating mainly on bank overdrafts.

Meatco CEO, Mwilima Mushokobanji, briefed the media on the state of the corporation.

Meatco has become limping financially and has neglected the main source of its existence, i.e. the producers, to the extent that some farmers are deserting it and are setting up a new outfit that would rival Meatco.