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CABS

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CABS
Trading name
CABS
Type
Private
IndustryBanking
FoundedSeptember 8, 1954 (1954-09-08)
HeadquartersNorthridge Park , Northend Close, Borrowdale, Harare , Zimbabwe, Harare, Zimbabwe
Key people
Simon Hammond (Managing Director), Leonard Tsumba (Chairman), Nqobile Munzara (company secretary)
ParentOld Mutual
Websitewww.cabs.co.zw

CABS (formerly Central African Building Society) is a building society in Zimbabwe. CABS is a subsidiary of Old Mutual Zimbabwe Limited, Zimbabwe's largest life assurance organization. Old Mutual Zimbabwe is in turn a subsidiary of Old Mutual PLC - an international financial services conglomerate. The bank has over sixty years of experience and over 50 branches in Zimbabwe.[1]

The Society offers a diverse range of financial products and services that includes transaction and savings accounts, mobile banking, mortgage loans, money market investments, term deposits and pay-roll loans.

Background

The bank was established in the then Rhodesia on 8 September 1954.[2] CABS is owned by Old Mutual Zimbabwe limited which has interests in various sectors of the economy including retail, properties and insurance. Thus CABS operates as a subsidiary of this multinational company.

Products

  1. Textacash
  2. Transaction Accounts
  3. Savings Products
  4. Loan Products (Mortgaes, Equity Release loans, Short term loans for investors)
  5. CABS Bancassurance
  6. CABS Investment Services
  7. Corporate Banking Services.[3]

Services

  1. Internet Banking
  2. DSTV Payments
  3. Bill Payments
  4. Debit Cards
  5. Exchange Control Products & Services
  6. Senior Citizen Discount[3]


Mortgages

For Diaspora

CABS offers mortgages for individuals in the diaspora. The requirements for people in the diaspora diasporans are:

  • A notarized affidavit signed by a notary public confirming identity, residence and work status
  • Letter from employer confirming salary, retirement age and contract of employment which should be long enough to cover loan tenor
  • Work permit
  • Residence permit
  • 6-month bank statement from a bank into which salary is paid
  • An active CABS account from which loan repayments will be deducted
  • A local address to which CABS will serve documents
  • Special power of attorney for the person signing the documents on behalf of the applicant and their key documents.

For more information please contact CABS Contact Centre. Telephone:+263 (04) 883823/33

Budiriro Properties

In 2013, CABS partnered the [[Harare City Council] in a $15 million project for the construction of 2,800 houses in Budiroro. Initially, customers were expected to pay about $5,000 deposit for two-roomed houses that were being sold for $22,000, and $7,000 for the four-roomed houses whose total cost was $27,000.

In September 2017, CABS relaxed the terms of access for the Budiriro mortgages. The bank increased Mortgage tenor from 20 years to 25 years,

Awards

  • 2014- Zimbabwe Financial News Awards 2014- CABS lifted the top performing bank.[4]

Branches

  • OM Green Zone CABS Center Cnr Sam Njoma & Jason Moyo Harare +263 24 707731-4 Harare & Mashonaland
  • Dangamvura Shop 12 Old Mutual Complex Dangamvura Mutare +263 20 30363 Manicaland
  • Zvishavane 17 Fowler Avenue Zvishavane + 263 39 2421 Midlands & Masvingo
  • Victoria Falls 306 Parkway Drive Victoria Falls Zimbabwe + 263 83 44642 Byo & Matabeleland
  • Rusape Stand 796 18 Robert Mugabe Street Rusape + 263 25 205 2664/1966/1968 Manicaland
  • Plumtree 223 Kingsway Plumtree + 263 89 2441/2677 Byo & Matabeleland
  • Park Street 1 Park Street /Cnr Jason Moyo Avenue Harare + 263 24 756656/756538/781171 Harare & Mashonaland
  • Nyanga Stand 255 Rochdale Nyanga + 263 26 8550/0329 2098 550 Manicaland
  • Northridge Park Northend Close Northridge Park Highlands Harare. + 263 24 883823-59 Harare & Mashonaland
  • Norton Stand 525A Cornmarket Crescent Norton Town Centre Norton + 263 24 3538/2830 Harare & Mashonaland
  • Mutual Gardens Old Mutual Head Office 100 The Chase Harare + 263 24 336857 Harare & Mashonaland
  • Mutare CA House 81 Herbert Chitepo Street Mutare +263 20 64311 Manicaland
  • Mutare CABS Centre Mutare. + 263 20 63529/64311 Manicaland
  • Murewa Stand 247 Murewa Growth Point Murewa +263 65 22119 Harare & Mashonaland
  • Murambinda Stand 107 Murambinda Gwroth Point Murambinda + 263 25 2248 Manicaland
  • Mt Pleasant Mt. Pleasant Shopping Centre Bond Street Harare + 263 24 303144 Harare & Mashonaland
  • Mt Darwin Stand 187 Mt Darwin + 263 66 2678/2543 Harare & Mashonaland
  • Masvingo 402 R Mugabe Way Masvingo Zimbabwe + 263 39 262391/2 Midlands & Masvingo
  • Marondera Stand 68 The Green Marondera + 263 65 27258/25425 Harare & Mashonaland
  • Mabvuku 200 Maresa Way Mabvuku Harare +263 24 2493341 Harare & Mashonaland
  • Mabelreign Stand 391 Stortford Parade Mabelreign Shopping Centre Harare +263 24 305261 Harare & Mashonaland
  • Letombo 77-79 Amby Drive Letombo Harare +263 24 447787 Harare & Mashonaland
  • Kwekwe Cnr 4th Ave & N/Mandela Way Kwekwe + 263 55 22888/9 Midlands & Masvingo
  • Karoi Stand 95 Karoi + 263 61 6256/7641 Harare & Mashonaland
  • Kariba 133 Makuti Road Kariba + 263 61 6202/0261/6274 Harare & Mashonaland
  • Kadoma 68 Newton Street Kadoma + 263 68 23538/24314 Harare & Mashonaland
  • Hwange 24 Coronation Drive Hwange Zimbabwe + 263 81 22711 Byo & Matabeleland
  • Highglen Stand 457 Willowvale T/ship Harare +263 24 692263/73 Harare & Mashonaland
  • Highfield 976 Jabavu Drive Machipisa Shopping Centre Highfield Harare + 263 24 667516 Harare & Mashonaland
  • Hauna Hauna Growth Point Manicaland + 263 26 2470 Manicaland
  • Gweru CABS Centre Gweru + 263 54 222051/8 Midlands & Masvingo
  • Gwanda 628 Soudan St Gwanda Zimbabwe + 263 84 22444 Byo & Matabeleland
  • Gutu Stand 353 Mupandawana Growth Point Gutu +263 39 2315/2791 Midlands & Masvingo
  • Greendale 304 Arcturus Road Kamfinsa Shopping Centre Greendale Harare +263 24 480913 Harare & Mashonaland
  • Gokwe Stand No. 3816 Gokwe Zimbabwe +263 55 2295 Midlands & Masvingo
  • First Street Corner First Street & George Silundika Harare +263 24 700611/22 Harare & Mashonaland
  • Chivhu Cloete St Chivhu Zimbabwe + 263 54 2528/2312 Midlands & Masvingo
  • Chitungwiza CABS Shop 6 Chitungwiza Town Centre Chitungwiza +263 24 31136 Harare & Mashonaland
  • Chisipite 85 Hindhead Avenue Chisipite Shopping Centre Harare + 263 24 496208 Harare & Mashonaland
  • Chiredzi 349 Chilonga Drive Chiredzi +263 31 2694 Midlands & Masvingo
  • Chipinge Main St, Chipinge Zimbabwe + 263 27 204 2282/3 Manicaland
  • Chinhoyi 11 Magamba Way/Cnr Independence way Chinhoyi + 263 67 22112/22307 Harare & Mashonaland
  • Chegutu 593/4 Charles Street Chegutu +263 68 2400/3980 Harare & Mashonaland
  • Central Avenue Corner Fourth Street/Central Avenue Harare +263 24 252861-7 Harare & Mashonaland
  • Bulawayo Fife St Fife St Between 9th and 10th Ave Bulawayo +263 29 75991/75902 Byo & Matabeleland
  • Bulawayo CABS Centre Bulawayo + 263 29 75902/75991 Byo & Matabeleland
  • Bindura 29 R.G. Mugabe Street Bindura +263 66 6543/7056
  • Beitbridge 349 Jsticis Road Beitbridge +263 85 23338 Byo & Matabeleland
  • Five Avenue Athenitis Spar Supermaket Fife Avenue Shopping Centre Harare. Harare & Mashonaland
  • Avondale Avondale Shopping Centre Harare. +263 24 308686/308915 Harare & Mashonaland
  • Arundel 14 Forest Road Arundel Village Arundel Harare +263 24 369979 Harare & Mashonaland

Past Exexutives

References

  1. ↑ , Central Africa Building Society (CABS), "AUHF", retrieved:17 Jul 2014"
  2. ↑ , Central Africa Building Society (CABS),Reserve Bank of Zimbabwe, retrieved:9 Jan 2015"
  3. ↑ 3.0 3.1 , Products, "CABS", retrieved:17 Jul 2014"
  4. ↑ F. Mhlanga, Top banks win awards,The Independent, published:21 Nov 2014,retrieved:9 Jan 2015"

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