By Rudo Saungweme

Government has revived the issuance of Treasury Bills and bonds so as to support the financial services sector.

President Emmerson Mnangagwa has announced this today at the State Of the Nation Address (SONA) and official opening of the second session of the ninth Parliament of Zimbabwe.

"We are determined to consolidate digital financial services which are contributing to the creation of financial inclusion by way of delivering banking services to previously unbanked and vulnerable groups of our population.

"To further support the development of the financial services sector, Government has revived the issuance of treasury bills and bonds through the Auction system,” said the President.

President Mnangagwa added that Reserve Bank of Zimbabwe (RBZ) has established savings bond instrument to facilitate safe and secure investment to the public.

"In this vein, the RBZ has established Savings Bond instruments to facilitate safe and secure investment to the public.

"In addition, measures will be put in place to establish the SMEs Stock Exchange, with a view to unlocking resources for SMEs," he said.

President Mnangagwa highlighted that he is fully aware of the challenges in accessing cash which has seen unscrupulous dealers robbing people their hard earned earnings.

"Government is fully aware of the challenges faced by the public on accessing cash, which has resulted in unscrupulous traders selling cash in exchange for electronic money. Appropriate measures are being taken to address the cash situation which includes a gradual removal of arbitrage opportunities created through multi-tier pricing," said the President.

The unscrupulous traders who were into buying and selling cash were given a hard blow this week following the ban by RBZ of cash in and cash out transactions. There was also an outcry by the public over the way these ecocash agents robbed citizens their hard earned cash.