CABS is an established and strong brand name in the financial retail market in Zimbabwe. 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.
These are delivered through the largest branch network in the country which is linked to CABS on-line real time banking system.
CABS is a subsidiary of Old Mutual Zimbabwe, Zimbabwe's largest life assurance organization. Old Mutual Zimbabwe is in turn a subsidiary of Old Mutual PLC - an international financial services conglomerate.
CABS is committed to the practice and maintenance of the highest standards of corporate governance. To this end CABS works within the framework of the Combined Code on Corporate Governance and Best Practice implemented through the offices of the Board of Directors.
The Board, consisting of both executive and non-executive directors, monitors financial and operational performance through regular meetings.
Through the disciplined implementation of internal controls and systems, CABS ensures accountability and accuracy in the preparation and presentation of its financial statements. In addition, internal and external committees meet regularly to monitor and report on a number of issues deemed to be in the interests of sound corporate governance.
These include, an Independent Board Audit Committee, a Board Loans Review Committee, Board Credit Committee, a Board Risk & Compliance Committee, an Executive Committee (EXCO), an Asset & Liability Committee and a Management Credit Committee.
'We will be a world class provider of secure, innovative and profitable financial services delivered by motivated staff for delighted clients'.
Global Credit Rating
The following report provides a synopsis of CABS credit rating as prepared by Global Credit Rating Co.
|Security Class||Rating||Expiry Date||Rating Watch||Previous rating|
The rating is based on the following key factors:
- The Society’s established brand and leading market position in Zimbabwe, coupled with the strong ties and ability to leverage off its parent was favorably considered.
- CABS remains well capitalized, receiving strong financial backing and support from Old Mutual Zimbabwe.
Board of Directors
- Dr. L.L. Tsumba (Chairman)
- J. Mushosho (Deputy Chairman)
- L.E.M Ngwerume
- B.L. Nkomo
- D.L. Stephenson
- R.C.D. Chitengu
- B. Zamchiya
- D.E.B. Long
- W. Alberts
- A.E. Siyavora
|S Hammond||Managing Director|
|M Mpofu||Deputy Managing Director|
|E Chibvuri||Head of Retail Banking|
|M Mukonoweshuro||Chief Finance Officer|
|J Jabangwe||Head of Operations|
|C Ndoro||Head of Corporate Banking|
|E Mujekenyeki||Head of Risk Management|
|J Mapiye||Corporate Treasurer|
|F Machawira||Head of Compliance|
|M Nyathi||Marketing Executive|
|P Kudakwashe||Head of Credit|
Corporate Social Responsibility
CABS is mindful of the community in which it operates and has made corporate social responsibility an integral part of the business. To this end CABS is involved in a number of activities that uplift the livelihoods of many within the Zimbabwean communities. These include:
- Arts and Culture
Currently there are no job openings, follow the news on the latest vacancies available at CABS.
About the Old Mutual Group
Who we are
We provide investment, savings, life assurance, asset management, banking and property & casualty insurance in Africa, Europe, the Americas and Asia. We have over 16 million customers and approximately 57 000 employees.
Our vision is to be our customers' most trusted partner - passionate about helping them achieve their lifetime financial goals.
Founded in 1845, we have expanded from our origins in South Africa through organic growth and strategic acquisitions. We have been listed on the London and Johannesburg stock exchanges, among others, since 1999.
We operate through market-leading international and local brands including Old Mutual, Nedbank and Mutual & Federal.
Growing and transforming our business to lead in a responsible and sustainable way:
We maintain a strict criteria for keeping businesses within the Group. They are required to:
How we operate
To be our customers' most trusted partner we need to be responsible in all our daily decisions and actions. This is why we are committed to being a responsible business in each of the markets in which we operate. We express this through our application of the five pillars of responsible business, through our corporate values and our interaction with our stakeholders:
We pursue value by balancing the risk assumed with the capital required andview good governance as a vital ingredient of operating a successful business.
Our values and people
Key to delivering this strategy is adhering to our core values and continuing to invest in our people as we embrace the richness of cultures across the Group.
We bring these together through ACT NOW!