Zimbabwe’s Biggest Mortgage Lender Shuts Down Four Operations in Small Towns

HARARE – Zimbabwe’s biggest mortgage lender, CABS will be closing branches in four small towns in a review of operations in response to economic trends in the southern African country.

CABS last year announced a phases closure of poorly performing branches and many have already been shut down.

However, no job cuts have been effected in relation to the programme.

Yesterday, the bank said branches in Chegutu, Mount Darwin, Chivhu and Mpandawana will be closed on March 31, a year after shutting branches in Mutare, Bulawayo and other towns.

It said services in these operations would continue through agents in all of the affected towns, such as OK Money Wave and Meikles Financial Services.

“CABS would like to advise customers that in line with our branch rationalisation strategy, (four) branches will be closing on 31 March 2020,” the bank said in a statement.

“Services will be available at the nearest agents or any other CABS branch nationwide,” added the statement.

CABS is a unit of the insurance group, Old Mutual.

LEAVE A REPLY

Please enter your comment!
Please enter your name here