By Hileni Nembwaya
THE Agro-marketing and trade agency (AMTA) highlighted the scale of its turnaround task as the agency suffered its worst ever financial results.
The agency reported a net loss of more than N$60 million during the previous financial year, attributing its main reason for the deficit to the actual expenditure that exceeded operational budget.
During the 2015 financial year, the net deficit of the association was more than N$ 62 million.
The deficit for 2015 was mainly attributed to insufficient funding of AMTA capital expenditure budget, increase in the operational cost, inflation based salary adjustment and promotion of staff.
AMTA board chairperson, Abraham Nehemia who presented the financial report during the annual general meeting held at Ongwediva, recently said that this is an ongoing concern facing the agency.
He said, “The annual financial statements have been prepared on the basis of accounting policies applicable to a going concern. This basis presumes that funds will be available to finance future operations and that the realisation of assets and settlement of liabilities, contingent obligations and commitments will occur in the ordinary course of business.”
In spite of the ongoing concerns, Nehemia said that the agency’s growing concerns depend largely on funding from the Government and other sources to fund the actual budget.
Anna Shiweda, the deputy minister in the Ministry of Agriculture, Water and Forestry said that AMTA had inspected about 106 farms and 207 facilities for compliance to global good agricultural practices and hazardous critical control points.
“Six hundred samples of agronomic and horticultural products were taken for laboratory testing, of which all samples were in compliance with the food safety standards,” she said.
AMTA is a state agency, mandated to implement the marketing, trade and research of the agricultural products as well as control of imports and exports of agronomic and horticultural products at ports of entry/exit in Namibia and inspect the facilities and farms for compliance to good agricultural practices.
Confidente. Lifting the Lid. Copyright © 2015