CABS

From Pindula
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[edit]

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[edit]

  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[edit]

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


Mortgages[edit]

For Diaspora[edit]

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[edit]

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[edit]

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

Branches[edit]

  • 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[edit]

References[edit]

  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"