It's a little short of full-on financialization of a cattle. So, perhaps closer to beef/dairy futures? What's missing is a bank classifying the cattle, selling them fractionally, and creating a hedging instrument.
If you own oil or soy futures, you can go get the product if you like (to everyone's inconvenience). This is not far off.
Why people there can't just store value in a hard currency, like USD? That's the typical approach in countries with shitty currencies. Even if it's illegal, I can't imagine enforcement being that great.
The currency in Zimbabwe is so unreliable that barter has become the principal way of saving and storing wealth.
Zimbabwe has “cow banks.” You take your cash salary, and give it to the cow bank. The cow bank uses the cash to buy a cow.
The cow is put into a pen. You can make surprise visits to ensure the cows are alive, healthy, and not being “shared” with other customers.
Interest rates are based on the fertility rates of cattle, not central bank policies.