MARONDERA, Zimbabwe—HOW A CATTLE BANK WORKS:

— The bank sends a veterinary official to inspect a farmer's cattle and assesses their monetary worth.

— Based on that, owners can get loans up to the value of the cattle they are banking as collateral.

—The bank pays 10 percent interest a year on the value of the cattle deposited, which can be paid out in cash or additional cows.

— Owners have the option to get back their cattle after an initial two years or leave them with the bank for longer.

— In the event the owner fails to repay the loan, the bank keeps the animals.

— When an owner dies, a close member of the family can take over payment of the loan and ultimately get the cattle back.

— The bank reserves the right to slaughter aging cattle to sell the beef and replace them with more productive cattle of the same value.

— The bank also carries out breeding programs and gets to keep the calves of cows deposited.


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