Maghreb Edition

Africa: How to pay a country’s debt with cows

Posted On 21 April 2020

Number of times this article was read : 344
Angola has received a herd of more than 1,000 cattle from Chad, a government official said Monday, the latest shipment of an unusual debt repayment deal. The landlocked central African country, impoverished despite its oil revenues, contracted a $100 million (92-million-euro) debt with Angola in 2017.  As repayment, Angola agreed to take 75,000 cattle, for delivery over five years from 2020, to help it develop its beef industry. “This consignment comprises 1,176 head of cattle. They have been placed in quarantine in the town of Quiminha, from where they will be transported to their final destination after inspection,”  Ditutala Lucas Simao, veterinary services chief in the agriculture ministry, told AFP.

Since the first batch arrived a month ago, Angola has taken delivery of 4,500 cattle, said Simao. After oil, livestock is Chad’s second largest source of export earnings. The deal works well for Angola, which is keen to revive its livestock farming sector as part of efforts to diversify the oil-dependent economy. The second largest crude producer in sub-Saharan Africa spends $350 million each year to import meat for its 30 million people.

“The Angolan government has launched a programme to turn the Camabatela plateau (straddling three provinces in the north of the country) into a cattle-breeding and meat-production belt,” said Simao. Angola is in the throes of a deep economic crisis since the 2014 drop in oil prices. The coronavirus has only added to its woes. The economy is expected to contract by 1.4 percent this year, according to the International Monetary Fund (IMF).

AFP
The North Africa Journal's WhatsApp Group
.

Most Recent Stories from the Region

Niger Moves Uranium From SOMAÏR Mine Despite Arbitration Ruling

Niger’s military authorities have authorized the removal and transport of uranium from the SOMAÏR mine at Arlit without the involvement of longtime operator Orano, prompting the French nuclear group to denounce the shipment as illegal and in breach of a September 2025 World Bank–linked arbitration ruling. While Niamey signals plans to sell the stock on the open market as an assertion of resource sovereignty, the move raises legal, safety, and security concerns as uranium travels by road through conflict‑affected Sahel corridors.

Benin Soldiers Mount Brief Coup Attempt

In the span of a few hours on December 7, a small group of soldiers in Benin, West Africa, moved from night‑time attacks on senior officers’ homes to a televized announcement claiming they had removed President Patrice Talon and suspended the constitution. Forces loyal to the government swiftly retook the national broadcaster and key positions in Cotonou, and authorities now say the coup attempt has been defeated even as some officers remain missing and questions about the mutineers’ support network persist.

Written by The North Africa Journal

The North Africa Journal is a leading English-language publication focused on North Africa. The Journal covers primarily the Maghreb region and expands its general coverage to the Sahel, Egypt, and beyond, when events in those regions affect the broader North Africa geography. The Journal does not have any affiliation with any institution and has been independent since its founding in 1996. Our position is to always bring our best analysis of events affecting the region, and remain as neutral as humanly possible. Our coverage is not limited to one single topic, but ranges from economic and political affairs, to security, defense, social and environmental issues. We rely on our full staff analysts and editors to bring you best-in-class analysis. We also work with sister company MEA Risk LLC, to leverage the presence on the ground of a solid network of contributors and experts. Information on MEA Risk can be found at www.MEA-Risk.com.