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Banks starts to trim staff

Central Africa Building Society (CABS) to close two of its branches in Harare. As the country is in the grip of a mega economic crisis which has led to company closures, severe job cuts and price increases on the back of foreign currency shortages, the situation has not spared the long-time serving bank.

CABS is merging Malbereign and Mabvuku branches   into Westgate and Greendale branches respectively. The notice from the bank claims that the shutdown of these branches due to its digitalisation on programme. CABS posted a notice on twitter which reads;

“Please be advised that in line with our drive towards digitalisation, we are merging the following branches with effect from 29 December 2018. Merging Malbereign Branch into Westgate Branch and Mabvuku Branch into Greendale Branch.”

Due to cash shortages in the banks, most if not all banks have welcomed the new and improved Mobile banking apps. And the app allows the account holders to view their accounts anytime, anywhere. And can make bill payments ,transfer money and buy  airtime ,and its faster and more intuitive to use and can link  to multi bank accounts to the app ,of which this application made the elimination of responsibilities of most of the staff in the institution.

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