Goats acceptable for school fees in Zimbabwe

Goats acceptable for school fees in Zimbabwe

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.
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.
“ 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.
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 .
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 .

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