Cattle, Goats To Be Used As Collateral In Zimbabwean Banks

Commercial banks in Zimbabwe will soon be compelled to accept livestock such as cattle, goats and sheep as collateral for cash loans to informal businesses under a new law presented to parliament Tuesday.


Vehicles, television sets, refrigerators, computers and other household appliances will become acceptable as collateral once they are evaluated and registered in the central bank’s register.
Guys, Do you see this happening in Nigeria?
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Edited by: Endy Edeson
Photo News Editor: Endy Edeson
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FACEBOOK COMMENTS

Bussy Duro and 3 others

Jeremiah Ademolu

If the goat die in the hand of the bank what will happen to the money

Jeremiah Ademolu

Endy Edeson

@Jeremiah: big question. definitely they will come up with rules that will cover such cases

Johnson Ahile

it cannot happen in naija.

Kaycee Vincent

#oya_lemme_cum_and_be_going_Zimbabwe