recently Tn livestock trust has claimed they are now accepting deposits of heifer cattles for their loan scheme . they were quoted this week on their platform
“We are now accepting cattle deposits. We accept steers between 2 and 3 years old. With a deposit, you will be entitled to a loan for a viable project of a value that is 50% of the value of the steers deposited. This will be a two year loan at an interest rate of 5% per annum. For now, we have set aside an amount of $500,000.00 for such loans”
The TN Livestock Trust (TNLT), a subsidiary of Lifestyle Holdings, is taking cattle “deposits” at its 540 hectare farm in Featherstone, about 100km from Harare, in a project meant to “make farmers bankable”.
In a country that has a large rural population whose major store of wealth is cattle, livestock is also kept for draught power, manure, meat, milk or as a currency with which to pay damages for offences under customary law and to marry. But rural folk have been unable to use their livestock as collateral for borrowing from banks. Under its cattle banking model, farmers can deposit their livestock at TNLT farms, which act as cattle banks, where the livestock will be under the care of experts employed by the bank
for more information read through their official page
