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Enacy Mapakame Business Reporter
The Central African Building Society (CABS) has signed a memorandum of understanding (MOU) with local travel firm Four Faces that should see the latter’s Holiday Clubs membership cards hosting basic banking functions.

The partnership will expand Four Face’s footprint riding on the huge market share that CABS commands on the local banking sector.

This will also boost the firm’s credibility.

“This will see the distribution of four faces membership cards improve as we are going to take advantage of a wide distribution of CABS bank and agents,” said Four Faces managing director Evans Chadyiwa by email.

“This partnership will also bring security and confidence in our already well received holiday clubs concept as the banking functionalities will help our clients to use our cards more for everyday use at the same time making holiday clubs part of their everyday life thereby making them more travel conscious this will improve the savings they will make for their holidays.

“Added to the everyday CABS banking functions the four faces holiday club membership card Four Faces will be the only biller on the USSD biller payment,” he  said.

Four Faces provides specifically designed packages which allow members to save towards a holiday through affordable monthly subscriptions on a prepaid contract basis.

The firm caters for students, church events, camping, corporates and individuals providing an opportunity to explore domestic tourism while also looking at other regional and international destinations.

Mr Chadyiwa said the partnership added convenience to its club members and enabled them to easily save for their holidays.

The company would also benefit from CABS wide foot print in the industry with agents all over the country.

“The quest to offer practical easy solutions to our clients inspired this partnership. CABS has over 400 agents across the country and through this partnership Four Faces becomes a CABS agent offering their banking services.

“CABS also becomes a Four Faces agents via distribution of our membership cards through their wide agency network. This will increase holiday and travel aptitude for our clients,” said Mr Chadyiwa.