By Staff Writer
HARARE – CABS has launched HerNest, a combined transactional and savings account tailored for women and women-owned businesses, as Zimbabwe’s banking sector seeks to boost financial inclusion among female entrepreneurs.
The product requires only a national ID and passport photo for women earning below US$500, carries no monthly service fees for accounts maintaining an average balance of US$200 and offers competitive interest on savings with full digital access.
Future features will include access to personal and business loans.
Speaking at the launch in Harare, CABS chief finance officer Valerie Muyambo told guests that the initiative was more than a product rollout.
“Tonight is more than a product launch. It is a celebration of strength, resilience and the limitless potential of women,” she said.
Muyambo said that through partnerships with the African Development Bank and the SME Support Centre, CABS had engaged and trained over 1,000 women entrepreneurs across 22 districts.
“One thing became clear. The ambition is there. The resilience is there. What has been missing is access to financial solutions designed with women in mind,” she said.
She noted that in Zimbabwe, only about 30% of micro and small enterprises are banked and just 1% have accessed credit from formal financial institutions.
“That is why today, we are introducing a deliberate solution,” Muyambo said.
“This launch reflects a deliberate commitment. A commitment to ensuring that women are not only seen and heard, but are also equipped to lead, to grow and to transform communities and industries.”
Afra Faith Zishiri, another executive at the launch, said the account was crafted after extensive engagement with women across the country.
“Women told us they need simplicity, flexibility, and support that grows with them. They told us that access matters more than pricing,” she said.
“Tonight, we introduce a solution inspired by women, designed for women, and created to support you in your daily life.”
Tapiwa Rukara, head of business banking at CABS, said the initiative reflected a broader commitment to inclusion
“HerNest stands as a true celebration of women and a recognition of the invaluable role women play in our shared economic journey,” he said.
“Women are ready. They are engaged. And they are looking for financial partners who understand their reality.”
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