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

Posted On 21 April 2020

Number of times this article was read : 83
Influencing the influencers: Some of The North Africa Journal's subscribers
From Shield & Alert:
Senegal at the Center of Another Geopolitical FightMali: Al Qaeda attacks rebel convoy in the Ouagadou forestFrom a Russian Grain Export Onslaught to a Ban on French Cattle: Agricultural Trade Between France and Algeria in StandstillNiger and Algeria recall their ambassadors over undocumented migrantsSenegal: Disgraced President leaves office to find shelter in MarrakeshMorocco: Health workers go on strike, demand implementation of reformsAlgeria: President announces early election, no one knows whyAlgeria: Beware of forgery. New law seeks to reduce fraud and white collar crimeMorocco: Price of butane gas to increase by 25% in AprilUS-Niger relations face uncertainty, with Niamey’s pivot to RussiaBrief: Tunisia: The Lazy GovernorsAlgeria: Opposition leader Zoubida Assoul announces presidential bidAgriculture: Spanish farmers say Moroccan strawberries carry virus, as Morocco surpasses Spain as tomato supplier to EUBloody Sunday: The indiscriminate killing of Muslim and Catholic worshipers in Burkina FasoNiger and Mali up their anti-Western positions, lash out at France and USNiger: Two soldiers killed in insurgent attack in DiffaMali: Katiba Mecina insurgents raid military camp in Niono, repelledSenegal’s outgoing president prepares for disgraced exitAlgeria-Morocco Competition for Regional Influence Shifts to Economic AffairsLibya: Bank and power company employees detained over separate corruption affairs
1159 issue: week ending 23 Apr. 2020
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
Other Articles in this Week's Issue<< Sahel: Unrest in Niamey’s Lazaret neighborhood over curfewTunisia sees progressive easing of confinement after 3 May >>
The North Africa Journal's WhatsApp Group
.

Most Recent Stories from the Region

Senegal at the Center of Another Geopolitical Fight

Senegal at the Center of Another Geopolitical Fight

By Arezki Daoud: France is experiencing an unprecedented backlash in the Sahel and in West Africa.  Disastrous post-colonial policies forced the people of Mali, Niger and Burkina Faso to expel French troops and diplomats, reducing Paris' entrenched but...

From a Russian Grain Export Onslaught to a Ban on French Cattle: Agricultural Trade Between France and Algeria in Standstill

From a Russian Grain Export Onslaught to a Ban on French Cattle: Agricultural Trade Between France and Algeria in Standstill

Agricultural trade between France and Algeria is experiencing challenges that are primarily affecting French exporters. From the onslaught of the Russian grain exports to Algeria, essentially displacing French exporters, to Algeria banning French cattle due to EHDV disease, not all is well between Algeria and France in the agricultural trade sector. The most affected parties in this situation are French producers and exporters, who are looking for new initiatives to fight back.

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.

Pin It on Pinterest

Share This