Angola receives cattle from Chad to repay $100 million debt

Tuesday March 24 2020
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A man leaves a cattle market with his herd on March 2, 2020. PHOTO | PATRICK MEINHARDT | AFP

By ARNALDO VIEIRA

In Luanda

Angola has received, through the Luanda port, the first batch of 75,000 head of cattle from Chad as repayment for $100 million debt.

The leaders of the two countries last year agreed that the 2017 debt would be paid with 75,000 head of cattle over 10 years. The agreement came at a time Angola was seeking to replenish its cattle in the Camabatela plateau.

More than 1,000 head of cattle were unloaded and handed over to the Angolan Agriculture and Forestry minister, Mr António Assis, on Sunday. Three more vessels were scheduled to reach Luanda during in the next few months.

Mr Assis said the Angolan veterinary institute had last month dispatched a team to Chad to assess the sanitary conditions receive the animals.

The mission aimed at ensuring the safe travel of the animals from Chad, Mr Assis added.

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Angola’s economy has borne the brunt of the sharp decline in the global oil prices, and the government sees diversification as the way out.

Oil production continues to account for approximately 50 per cent of Angola’s GDP, 80 per cent of the government revenue and 95 per cent of its exports.

Agriculture’s contribution to the GDP – including forestry and fisheries – stands at about 8 per cent in Angola.

The non-oil sector in Angola is mainly dominated by agriculture, banking, communications, fisheries, state-owned retail stores and diamond production.

Cattle represent 53 per cent of Chad’s GDP and livestock accounts for 30 per cent of its exports.