WINDHOEK: One of the country’s main agricultural cooperatives, Agra, will change to a public company on 01 February 2013. With 18 outlets nationwide, Agra provides an all-round service to Namibia’s farming, agriculture and consumer sectors.
The move follows consultations between the Ministry of Agriculture, Water and Forestry and the company in order to comply with the Cooperatives’ Act of 1996.
Agra said in a media statement on Friday that the conversion of Agra Cooperative Limited into a company gives effect to the wishes of more than two-thirds of Agra’s members.
“The board and management see the conversion as a natural evolution, a process that will strengthen Agra’s position to continue to grow and develop its markets, knowing that its business vehicle is well-geared to build on the success story of the past,” they stressed.
Numerous administrative and organisational tasks lie ahead for Agra to ensure a smooth transition into a company.
The company noted that a strong balance-sheet supports Agra’s purpose of creating prosperity and improving the quality of life for the nation. Agra was launched as the first Namibian agricultural cooperative in 1980, and is the largest multi-purpose entity of its kind today, with some 7 500 Namibian shareholders.
It has an annual turnover of over N.dollars 1 billion, and more than 400 Namibian employees. Agra offers livestock marketing services and retail operations through a branch network that spans the whole Namibia.