Angola receives cattle from Chad as Sh10 billion debt payment
Angola on Sunday started receiving through the Luanda’s port the first lot of 75,000 cattle from Chad’s $100 million debt to Angola.
Last year, both countries leaders agreed that the 2017 debt would be paid in a 10-year period with 75,000 cattle.
The agreement comes at a time when Angola is seeking to repopulate its cattle in Camabatela plateau involving Cuanza-Norte, Uige and Malanje provinces as the country’s economy has been severely affected by the sharp decline in oil prices and the government sees diversification as the way out.
Oil production continues to account for approximately 50 percent of Angola’s GDP; 80 percent of government revenue and 95 percent of its exports.
Agriculture’s contribution to the GDP – including forestry and fisheries – stands at about eight percent in Angola.
The non-oil sector in Angola is mainly dominated by agriculture, banking, communications, fisheries, state-owned retail stores and diamond production.
Cattle farming represent 53 percent of Chad GDP and livestock accounts for 30 percent of its exports.
More than 1,000 cows were unloaded and handed over to the Angolan agriculture minister on Sunday.
To complete the figure, three more vessels are scheduled to reach Luanda during the next couple of months. By Friday, 4,500 cattle will be in Angola.
Angolan agriculture and forest minister Mr António Assis said the veterinary institute had last month dispatched a team to the zone to assess the sanitary conditions to receive the animals.
This exercise was aimed at receiving the animals well from Chad, Mr Assis added.