By Bongiwe Dlamini

LUDZIDZINI: Fikile Nkosi,the Managing Director of Nedbank Eswatini has confirmed that,they now accept cattle as collateral for bank loans.

Speaking during Sibaya on Saturday, the Nedbank Managing Director clarified that,they first engage experts to assess the value of the cattle to ascertain if they qualify to be placed as collateral, she was responding to a question from former Senator Walter Bennet.

A collateral is an asset pledged as security for the repayment of a loan that is forfeited in the event of a default.

“We now accept cattle as a collateral but, we first conduct experts to assess the value of the cattle and ascertain if they qualify to be placed as a collateral for the loan”, said the Nedbank Managing Director.