Chad repays $100m debt owed to Angola with cattle
London, March 17, 2020 (AltAfrica)-Angola has received 75,000 head of cattle sent by Chad as part of the repayment of a 2017 $100m (£82m) debt.
More than 1,000 cows were delivered to the Ministry of Agriculture.
State-run Jornal de Angola newspaper said the vessel that transported the cattle would return to Angola’s capital, Luanda, in five days carrying another batch.
Some 4,500 head of cattle were expected to arrive in Luanda in the course of this month, it said.
This month Angolan Minister for Agriculture and Forestry, António de Assis, confirmed the intended repayment model.
He said Angola and Chad agreed to this arrangement taking into account the potential Chadian livestock (with a contribution of 53% to GDP).
The minister said because of the livestock of Chad, the debt can be paid in that manner to fill areas of the country with animal population loss.
Angola’s director of the Institute of Veterinary Service said the agreement between the two countries provides for the annual delivery of 13,500 head of cattle, on a quarterly basis
There have been reports of individuals across African settling debts in this manner but this is the first known case between countries when such transaction takes place