Chickens, goats now collateral security in banks - Chinamasa

Finance Minister  Patrick Chinamasa wants commercial banks to accept chickens, cattle, sheep  and goats as collateral for cash loans to informal businesses.

Chinamasa said this in Parliament Tuesday when debating the Portfolio Committee joint report of the Finance and Economic Development and Small and Medium Enterprises and Cooperative Development on the Movable Property Security Interests Bill (H.B. 7, 2016).

"Now, I want us to have that mindset shift to say we are now going into the business of monetising whatever is movable – whatever we have from livestock, goats, sheep, chickens and what have you.

" We are now going to be in the business of putting value to those assets" he said as recorded by the Parliamentary Hansard.

He added "Anything that can be touched is tangible.  Anything that you cannot touch, which is incorporeal, that is what becomes now intangible assets and these include, intellectual property, trademarks, brands, goodwill and so on, they cannot be touched, but they are asset all the same.

" As long as these assets can be recorded and registered, they will become available to operate as security".