AMTA records N.dollars 5.6 million surplus

11 Mar 2016 07:50am
WINDHOEK, 11 MAR (NAMPA) – The Agro-Marketing and Trade Agency (AMTA) has recorded a surplus of N.dollars 5.6 million during the 2014/2015 financial year.
Funded by Government and levies from farmers, AMTA's mandate is to manage the Fresh Produce Business Hubs (FPBHs) and National Strategic Food Reserve (NSFR) infrastructure towards the attainment of food safety and security in Namibia. In performing its role, AMTA works closely with the Agricultural Business Development Agency (AgriBusDev) and the Namibian Agronomic Board (NAB).
Under-Secretary for the Department of Agriculture in the Ministry of Agriculture, Water and Forestry, Desmond Tshikesho, who is also a board member of AMTA, revealed the figures during its annual general meeting on Thursday.
AMTA recorded a surplus of about N.dollars 5.3 million for the 2013/2014 financial year.
During the 2014/2015 period, AMTA was funded by the ministry with N.dollars 53 million.
“This is a wonderful audit and the company is still healthy,” he boasted.
AMTA is mandated to collect levies and fees from farmers effective as from 01 January 2015. During the period under review, AMTA collected N.dollars 10.7 million through levies and other fees between January and March 2015.
AMTA recorded a net deficit of N.dollars 2.4 million for the year under review. The deficit is due to an increase in staff from 53 to 153, which also increased liabilities. Company assets stood at N.dollars 176 million in 2015, compared to N.dollars 92 million in 2014. Liabilities stood at N.dollars 179 million for 2015, compared to N.dollars 89 million in 2014. Equity of N.dollars N.dollars 2.4 million (deficit) was recorded for 2015, compared to N.dollars 5.6 million (surplus) for 2014.
Meanwhile, insufficient grain supply for the NSFR due to drought and limited irrigated land was the biggest challenge for AMTA during the 2014/2015 financial year. Lack of marketing skills (agents) and seasonal over supply of certain produce were also some of the challenges faced by the agency, said Tshikesho.
“Substantial progress was made in terms of implementing various programmes to ensure agronomic and horticulture products have access to the market. We value the support received from stakeholders and we count on your continued support in order for us to achieve our goals in ensuring food safety.”
Namibia produces a variety of fresh produce for the local market. It includes potatoes, onions, tomatoes, cabbages, sweet potatoes, beetroot, cucumbers, watermelons, sweet melons, dates, pumpkins, and butternuts.