Eswatini Daily News
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Technology

Economic Development Through Technology

Today the use of technology has penetrated all sectors in many countries around the world and Kingdom of Eswatini is no exception, from marketing, communication, health care management and transport.

Technology plays a pivotal role in the source of development in the economy with its numerous changes contributing immensely to the growth of the economy in many ways.

It is also a role of the ministry of foreign affairs  in international relations to explain or reconcile divergent interests to appropriate external actors or to bring the trade policy and interests into line with foreign policy. The process of bringing trade and foreign policy into alignment can be difficult if trade interest, broadly defined, secure either sufficient economic, importance or official support for the separate conduct of trade or even its pursuit at the expense of foreign policy.

Technology promotes the usage of natural resources, many countries boast of a wide array of natural resources found beneath land and underwater. Due to lack of know-how and ability to detect and retrieve them, numerous countries, particularly in developing countries grapple with sitting on economic treasures such as minerals, oil and land that are underutilised. However, technology alters this dynamic by developing various machinery that enables businesses and the government to adequately access and utilises a wide range of natural resources efficiently, benefiting its citizens, businesses and boosting the overall economy of the nation.

Sifiso Lukhele – Mobile Phone Designer

Recently we have witnessed  Eswatini national who designed and launched a mobile phone which is a communication device called Lukhele this is one of the economic development through technology that helps to keep businesses and people in contact. Lukhele mobile device will promote the culture of predominantly exporting rather than importing which is a concept Eswatini and rest of Africa need to adopt in its fullness to grow its gross domestic product (GDP)

Technology elicits the saving of time. The utilisation of technology in various aspects of business or industries such as computerisation of data, use of machinery to carry out different jobs as well as utilisation of internet for communication readily alters the dynamic and operation of business entities. It does so by ensuring that utilization of machines powered by technology plummets the time needed to produce various goods and to decrease the delivery period for the said products.

Additionally, the adoption of technologically fuelled communication through mobile phones and internet ensures customers can communicate with the production team on placing urgent orders or making changes to orders within a limited time, promoting efficiency and overall increase in profits that translate to economic growth of the nation.

Technology advancement facilitates research, it offers new opportunities and discovery of new ideas. The conducting of research encompasses activities such as the writing of a proposal, creating theoretical models, designing and conducting experiments, collecting data and maintaining communication with research sources and colleagues.  Technology comes in handy by facilitating the doing of research by all business sectors.

Thus, they gain insight that aids in advancing businesses through the discovery of alternative methods of running and managing a business that is more profitable, and the discovery of new technical capabilities in the market.  The utilization of technology has boosted international trade. Information technology has revolutionised the sale of goods and services to consumers throughout the world.

The presence of the internet has made the world global village, connecting different people from all walks of life into a single platform, where they can communicate, share ideas, sell and buy commodities. The Internet enables businesses to reinvent themselves by ensuring their online presence. Hence, reaching a wide array of customers within a short period and increasing their sales by acquiring a more significant client base through online shops, social media and by use of Information Communication Technology (ICT) marketing tools from all over the world. But ICT has been facing numerous challenges around the world due to cyber-attacks, spreading of hate speech, fake news and other malpractice.

Minister of ICT
Hrh Princess Sikhanyiso

That’s why the recently appointed youthful Minister of Information, Communications and Technology Her Royal Highness Princess Sikhanyiso suggested having policies in ICT that will bring to book those misusing internet and social media. Use of technology in businesses has resulted in the expansion of industries. With the usage of technology, numerous institutions including the government have adopted measures of making available most of their services to the public through online platforms. The new changes have necessitated the development of new infrastructure to support all these services. As result, new sectors have come up such as the App industry, creating more opportunities for individuals who are in ICT industry resulting in job creation.

Technology plays a major role in economic development by facilitating the utilization of resources saving on time and boosting international relations, diplomacy and trade while leading to the expansion of tax base through exports. Kingdom of Eswatini can continually benefit from technology just like Singapore.

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