CABS opens state-of-the-art centre


CABS is the country’s largest building society, which has of late been undertaking some of the largest housing development projects in the country.

BULAWAYO — The Central African Building Society (CABS) has opened a state-of-the-art banking centre in Bulawayo.
The mortgage lender is a unit of the Zimbabwe Stock Exchange-listed financial services group, Old Mutual Limited.
It is the country’s largest building society, which has of late been undertaking some of the largest housing development projects in the country.
The CABS Centre in Bulawayo has been undergoing renovations in the past three months, culminating in its reopening last month.
A senior executive said last week that the renovations affirmed the lender’s commitment to providing relevant products to the market in a paperless environment, adding that renovations had commenced on October 19, 2015.
Managing director, Simon Hammond, told the Financial Gazette Property that the renovated centre now encompassed the Old Mutual green zone, where the insurance giant’s products can be accessed.
A significant part of the renovations budget went into the establishment of the green zone, according to Hammond, who said it was the first time that the facility was incorporated into the CABS Centre.
CABS has been undertaking a rebranding programme that it says is meant to align with Old Mutual.
The refurbishment programme, which would be implemented in phases, is expected to cover all CABS branches countrywide after completion of the first eight units, according to Hammond.
He said the mortgage lender was currently renovating the Kelvin Corner branch in Harare, the Southerton branch and the Central Avenue Harare branch.
Branches in Gweru and Zvishavane were also undergoing a facelift.
“The renovations involved establishing the green zone where all Old Mutual products can be obtained,” Hammond told the Financial Gazette Property last week.
“Completion of the renovation exercise was on January 29, 2016.
“The new environment is now more comfortable and spacious and caters for more clients. It is also attached to the green zone to provide our clients with added convenience when transacting,” Hammond said.
CABS offers transactional accounts, savings products, loans, banc assurance, corporate banking, trade and international payments, internet banking and mobile banking while Old Mutual’s financial solutions range from administering pensions to investments on the stock and money markets.
Hammond was not at liberty to disclose the cost of the project.
“A significant amount was invested towards the renovations of CABS Centre Bulawayo and the green zone. The better part of the budget went towards the green zone since it was a new establishment.”
“CABS is a solid partner that provides you with a convenient, holistic product offering in a refreshed environment.
To improve on efficiency and to make it easier for individual clients to transact, CABS continues to encourage clients to use e-commerce for banking,” said the CABS boss.
One of the key housing development projects being undertaken by CABS is at Budiriro in Harare, where it had completed 2 800 units by October last year.
Hammond said then that about 500 units had been sold.
“To date we have sold over 500 houses from the 2 800 that have been constructed which comes to about 20 percent of the total project.
“The uptake of the project although still low is slowly improving after we opened it up to multiple home owners and those not on the waiting list. CABS continues to implement strategies aimed at improving the uptake of the houses,” he said.

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