Articles tagged 'cabs'

CABS merges branches 1 October 2018 HARARE - Zimbabwe's leading mortgage lender, the Central Africa Building Society (CABS) is merging some of its branches in Harare in line with its drive towards digitalisation. In a notice issued last week, the building society said it will be merging its Mabelreign branch with the Westgate br...
Soldier blows $237 000 deposited in his account 5 June 2018 HARARE - A soldier reportedly stole $237 000 that had been mistakenly transferred into his bank account during a system failure at Cabs Bank Limited last year, a court heard. Arnold Lethlale Pullen, 27, was released on bail when he appeared before Harare magistrate Victoria Mashamba. He is ...
Zim banks go paperless 25 May 2018 HARARE - Like ducks to water, Zimbabwean retail banks are embracing technology to the point of doing away with paper transactions in their banking halls. This week, CABS became the latest institution to ditch paper-based transactions, urging customers to use their more convenient digital platf...
Non interest income pushes CABS bottom line up 17 March 2018 HARARE - Local financial retail market heavyweight CABS on Thursday reported a seven percent increase in net surplus for the year ended December 31, 2017, buoyed by an increase in non-interest income. The bank reported a surplus of $42 million representing an increase of 7,3 percent from the $...
Ex-Finance minister cornered over $366k debt 7 March 2018 HARARE - CABS has applied for a default judgment against former deputy Finance minister and Zanu PF Mutoko South MP David Chapfika in a bid to recover a $366 000 loan that the politician secured using his late brother's estate. In the application filed on Tuesday last week, CABS cited Chapfika...
CABS, ZymPay in Diaspora mortgage deal 29 December 2017 HARARE - Cross border bill payment business ZymPay has entered in a strategic partnership with Central Africa Building Society (CABS) in Zimbabwe to facilitate payments from their Diaspora mortgage customers. This service is for CABS mortgage customers in the United Kingdom, Europe and Switzer...
Innscor, Cabs clinch top awards 30 November 2017 HARARE – Innscor Africa was the overall listed companies winner of the Excellence in Corporate Governance Awards, while CABS was the overall banking sector winner. The Deposit Protection Corporation was the winner of the State Enterprises and Parastatals Award. Innscor was judged the overal...
2 SA sides for CABS T20 Tournament 7 September 2017 HARARE - Two South African sides are scheduled to take part in the CABS T20 Tournament to be held at St George’s College in Harare starting tomorrow. The three-day Twenty20 extravaganza running under the banner “Smashing Cricket” is set to feature St Benedict’s from Johannesburg, who arrived i...
Old Mutual Custodial Services rebrands 15 June 2017 HARARE – Old Mutual Custodial Services has rebranded to CABS Custodial Services (Private) Limited (CCSL) in an effort to meet international best practices that encourage custodians to operate within a banking institution. CABS managing director Simon Hammond said the new unit will also take ad...
Cabs in $39,2m profit 18 March 2017 HARARE - Old Mutual Zimbabwe's mortgage lender, Central African Building Society (Cabs), recorded a $39,2 million surplus in the year to December 2016 up from $28,3 million. Cabs chairman Leonard Tsumba said while the group had managed to grow its net surplus by $11 million, total assets had a...
Cabs assets surpass $1bn 18 March 2016 HARARE - Old Mutual’s mortgage lending unit Central African Building Society (Cabs) total asset base increased by 22 percent to $1 billion from $852 million in the year to December 2015 mainly driven by a 27 percent growth in deposits. Cabs’ chairman Leonard Tsumba said total assets now stood ...
CABS drags Chapfika to court 22 January 2016 HARARE - Central Africa Building Society (CABS) has dragged ex-finance minister and Zanu PF Mutoko South MP David Chapfika to court over a loan repayment delay. In the application, CABS cited Chapfika, his company Racewin Trading (Private) Limited, and his wife Abina as respondents. Chapfik...
CBZ, CABS meet RBZ capital requirements 28 October 2014 HARARE - CBZ Holdings and CABS have already met the $100 million minimum capital requirements set by the Reserve Bank of Zimbabwe (RBZ) six years ahead of the deadline. The central bank, which early this year extended the minimum capital requirements from June this year to June 2020 due to a b...
CABS St George's T20 tourney begins 5 September 2014 HARARE - The battle for schoolboy cricket supremacy gets underway today when 11 schools descend on St George’s College in Harare for the annual CABS Twenty20 Cricket Schools tournament. Defending champions Peterhouse College will be hoping to once again stamp their authority at the annual even...
CABS asset base surges 21 percent 22 August 2014 HARARE - Old Mutual’s mortgage lending unit Central African Building Society (CABS)’s asset base increased by 21 percent to $694 million in the half year to June 2014 up from $574 million recorded in the prior period. Group chairman, Leonard Tsumba, said the group’s deposits also grew by 23 pe...
Cabs secures $70m credit lines 24 July 2014 HARARE – Old Mutual’s mortgage lending unit Central African Building Society (Cabs) has secured $70 million offshore credit lines. The funds are targeted at boosting the institution’s housing loans in Zimbabwe. Kevin Terry, Cabs managing director, yesterday said the group will access at lea...
CABS halts youth empowerment loans 5 July 2014 HARARE - The Central African Building Society (CABS) has halted disbursement of youth empowerment loans due to a high default rate. The financial group was granting youths loans to fund projects under a $10 million Kurera-Ukondla Youth Empowerment Fund. “Disbursements were stopped as of May...
Wife illegally withdraws $9 000 from hubby's account 28 June 2014 HARARE - A Bindura woman who reportedly stole her husband’s ATM card and made withdrawals amounting to $9 160 was yesterday hauled before the courts. Fiona Samson, 27, of Matiya homestead in Bindura appeared before Harare magistrate Donald Ndirowei facing theft charges. She was remanded to ...
'Youths don't qualify for loans' 26 June 2014 HARARE - Most youths will not benefit from government’s Youth Development Fund (YDF) as they do not meet the loan criteria, financial institutions said. The Infrastructure Development Bank of Zimbabwe (IDBZ) and Central African Building Society (Cabs) — the institutions tasked with disbursing ...
French group grants CABS $10m loan 20 March 2014 HARARE - Old Mutual's mortgage lender Central Africa Building Society (CABS) has received a $10 million loan from a French financial institution, Proparco. The facility — with a five-year tenure — is targeted at bolstering long-term financing for Zimbabwean businesses. Proparco is a develo...
Parly summons CABS over $20 million fund 20 March 2014 HARARE - Officials from Central African Building Society (CABS) will appear before Parliament this morning seeking to clear doubts on how the $20 million Youth Fund was handled. The financial institution will be represented by its chief executive Kevin Kerry, who is expected to furnish the Jus...
Ngwerume to acquire Old Mutual stake 10 September 2013 HARARE - Old Mutual (OM) plans to cede a 3,5 percent stake worth $13 million to Stiefel Investments (Stiefel) led by the group's former managing director Luke Ngwerume, as part of its indigenisation compliance plan. Laurence Karumazondo, OM's company secretary, yesterday said the company will ...