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In a bid to modernise operations, Old Mutual’s unit in Zimbabwe, the Central Africa Building Society (CABS), will undergo a rebranding and refurbishment of its centres across the country, reports Business Day. The refurbishment exercise, which would be rolled out this month, would give the country’s largest mortgage lender an opportunity to enhance ‘‘customer experience’’ at its centres, CABS MD Kevin Terry said.
A report released last month by an independent research group, Industrial Psychology Consultants, noted that depositors in Zimbabwe were wary of keeping their funds in indigenous banks, which have been hard hit by a liquidity crunch and systemic risks.
Depositors opt for international banks or local banks backed by a strong parent. But the report says, an independent economist in Harare, Vince Musewe, said CABS’s strategy to refurbish centres was surprising, given the rapid changes taking place in the country’s banking sector, which has now opened up to electronic banking. —Business Day.
Online Reporter