Chad to pay $168 million debt to Angola with cattle

Each cow works out as having a value of around US$1333.
Each cow works out as having a value of around US$1333. Photo credit: Getty

The African nation of Chad is set to pay back a US$100 million (NZ$168m)  loan to Angola with cattle.

In total, the deal would see 75,000 cows sent to Angola over 10 years, reports BBC News, citing local media. 

The first payment of 1000 cows had already been sent to Angola's capital Luanda, with another 3500 set to arrive later this month.

The loan was made in 2017.

The BBC described the deal as "win-win for both nations", with Chad being a major cattle producer but being short of cash. 

Around 30 percent of the country's exports are livestock.

Angola agreed to the deal as it faces a cattle shortage due to severe drought in some parts of the country, the BBC reported.

The former Portuguese colony suffered a violent civil war from 1975 to 2002.

Each cow works out as having a value of around US$1333.