IN ZIMBABWE, GOATS ACCEPTABLE FOR SCHOOL FEES

Zimbabwean farmers who cannot afford to pay their
children’s school fees will be able to offer goats as
collateral for loans instead of paying directly in cash
if a draft law is passed by parliament.

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A former deputy finance minister David Chapfika,
told dpa on Thursday: “We are saying, you can go
to the bank while waiting for your crop to mature
and get fees while using your domestic animals as
collateral.

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“When the crop matures, you sell it and pay up the
loan,” Chapfika, who belongs to the ruling party
Zimbabwe African National Union – Patriotic Front
(ZANU–PF).

The possibility of paying in goats or cattle is part of
draft legislation on using movable property as
collateral for loans that is being considered by
parliament.

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The bill would not, however, compel any bank or
other lender to accept these assets, constitutional
law professor Fadzayi Mahere said.

Primary and Secondary Education Minister Lazarus
Dokora earlier told the newspaper Sunday Mail that
parents could also work for schools instead of
paying tuition fees.

“Our schools have to be flexible and ensure those
who do not have money to pay fees can work.
“For example, if there is a builder in the community,
he/she must be given that opportunity to work as a
form of payment of tuition fees,” the minister was
quoted as saying.

The government in 2016 launched so-called bond
notes, supposed to have equivalent US dollar
values.
They have not won widespread acceptance among
the population.

Courtesy: TNR

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