The unusual agreement is seen as creating a win-win situation for both nations – Chad is short of cash while Angola needs cattle. More than 1,000 cows arrived by ship in Angola’s capital, Luanda, as the first payment, Jornal de Angola reported. In total, Angola would receive 75,000 cattle over 10 years, meaning it has accepted payment of $1,333 per animal. Chad would send a further 3,500 head of cattle later this month. Chad is described by the World Health Organisation of Animal Health (OIE) as a “livestock farming country par excellence”, with about 94 million head of cattle. Livestock accounts for 30% of Chad’s exports, and is its main source of foreign exchange after oil. Chad had proposed repaying the 2017 debt with cattle, and Angola had agreed because it would help the southern African state rebuild its cattle population in drought-affected areas.
SOURCE: BBC
More Stories
MTN Hacked Just as it Launches Mobile Payments in Nigeria
Tanzania, like Many other African Countries, Wants to Stop Depending on Fertiliser from Russia
Equipping African and Africa-focused Startups with PR Tools
Zimbabwean Fishing Communities Fear for Future as Stocks Dwindle
South Africa Still Far from Fair Digital Migration
Pan African Parliament President Elected
Ethiopian Farmers Face a Double-edged Sword
Germany To Return Goddess Statue that was Stolen from Cameroon 120 Years Ago
Lumumba’s Family Closes a Painful Chapter
40 African Cities Feature on the 2021 Cost of Living City Ranking List
A Mangrove Project is the Star of Kenya’s Gazi Bay
Not Enough Females Operating in the African Venture Capital Space