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Chad settles Angola debt with cattle

Publish date: 23 March 2020
Issue Number: 865
Diary: IBA Legalbrief Africa
Category: Trade

Chad is repaying Angola a debt of $100m with cattle, Angola's state-run Jornal de Angola has reported. The unusual agreement is seen as creating a win-win situation for both nations because Chad is short of cash while Angola needs cattle. More than 1 000 cows have arrived by ship in Luanda. BBC News reports that Angola will receive 75 000 cattle over the next 10 years. Angola is anxious to rebuild its cattle population in drought-affected areas. Livestock accounts for 30% of Chad's exports, and is its main source of foreign exchange after oil.

Full BBC News report