Zimbabwe’s mortgage lender Central African Building Society (CABS) has announced it will progressively rebrand and refurbish its branches to improve customer experience, starting this month.

Kevin Terry, the bank’s managing director, said: "We are in the final stages of preparing to rebrand our corporate identity in July 2014. While we will maintain the brand name CABS, the general outlook of the brand will be enhanced and modernised.

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"Our stationery and uniforms will also be aligned with the new brand," he added.

Recently, CABS introduced DirectInject, a service which enables the processing of bulk payments into the bank’s ordinary and closed card scheme accounts.

Terry explained: "The service is now live and is being used, primarily, for salary and wage transfers and for payments to support agricultural commodities’ purchases."

According to CABS, $2.8m in loans have already been granted to parents and guardians under the School Card Scheme, which was launched in early 2014. It enables them to pay for school fees with a repayment period of four months.

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Finally, the bank stated that a new savings account will be introduced next month, called CABS Savings Plan and paying 3% interest.

CABS, a subsidiary of Old Mutual Zimbabwe, is one of the country’s biggest lenders. It offers products and services such as transactions, savings accounts, mobile banking, mortgage loans, money market investments, term deposits and pay-roll loans.

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