JUST IN: Savanna: Beef producers invest swiftly

Last Friday, beef producers invested an additional N$3.692 million in Savanna Beef Processors (SBP) - both from the pockets of existing and new shareholders. This brings the total amount producers have invested so far to over N$177 million. This comes as SBP opened a third investment round for Namibian beef producers on Friday, 14 July, with the initial goal of raising the remaining N$26.432 million. This is to bring beef farmers' investments to a total of N$200 million.

According to a statement issued by the SBP management committee, beef producers appear eager to invest, and a rush for the opportunity is expected by 23 August, when SBP will also have its annual general meeting. The committee reminded farmers that those who apply first will have the opportunity to invest first. Investors will benefit when it comes to slaughter priority and will receive a 3% premium on the price of the day.