Chad to settle U.S.$100 million debt to Angola with cattle
In a novel strategy that will attract some curiosity across Africa, Angola has agreed to receive 75,000 cattle from Chad as payment of a $100 million debt from the cash-poor north-central African country.
The cattle will be delivered over the next 10 years as repayment for the 2017 debt.
Local news report said the first instalment of 1,000 cows has already arrived in Angola’s capital Luanda and has been delivered to the Ministry of Agriculture.
Another shipment of 3,500 heads of cattle is expected later this month.
Reports say the agreement works for both sides because Chad is short of money and Angola needs cattle.
Angola is a southern African country rich in oil, but still struggling to recover from the ravages of the protracted civil war following 1975 independence from Portugal. Parts of Angola are prone to droughts that kill its cattle.
Chad is a landlocked north-central African country with an abundance of livestock. While oil is its top exports, the former French colony also exports cattle.