ESWATINI EVOLVING TOWARDS E-COMMERCE

MBABANE – Local entrepreneurs stand to benefit from foreign exchange as the country evolves towards e-commerce. This came to the fore yesterday during the official launch of the high level business forum on the e-commerce platform at Mavuso Trade and Exhibition Centre.

The official launch of the platform was attended by African Ministers of Trade, representatives of the African Union as well as of the Southern African Development Community (SADC).

According to the Digital Economy Report of 2019, released by the United National Conference on Trade and Development, businesses that build digital platforms have a major advantage in a data driven economy. It states that 40 per cent of the world’s largest companies by market capitalisation had a platform-based business model. 
This is the advantage the local entrepreneurs have into tap to in order to access the benefits brought about by e-commerce.

Launch

The Prime Minister, Ambrose Mandvulo Dlamini, yesterday, when officially opening the launch, said leaders in the African continent had already taken a lead in identifying a major challenge for Africa, which was the low level of intra-Africa trade and the continued marginalisation in the global digital economy. 
“Intra-African trade stands at around 15 per cent compared to approximately 60 per cent, 40 per cent and 30 per cent of intra-regional trade that has been achieved in Europe, North America and South East Asia,” the premier said. 

He said the establishment of the African Continental Free Trade Area (AfCFTA) provided the continent with hope and a road map for Africa  address the low levels of intra-continental trade.

The initiative to explore e- commerce trade in the continent is in line with the country’s strategic road map, which sets five industries to assist in the rejuvenation of the local economy.

These industries are; Information, Communication and Technology (ICT), tourism, agriculture, energy and mining and manufacturing.
Dlamini said supporting trade in goods was Africa’s commitment to liberalise trade in services, in the agreed facilitative priority sectors of business, communications, financial, tourism and transport services. 

He said as part of the AfCFTA agenda, Africa would cooperate in the areas of investment, competition policy and intellectual property, which were equally important pillars in supporting trade in goods and services.

“It is heartening to note that the African Electronic Trade Group has a vision ‘to transform Africa’s socio-economic environment by enabling African countries, communities, people and small and medium scale enterprises to leverage modern information and communication technologies’. This vision is equally embedded in our respective national development strategies in the continent.”

Result

On the other hand, the Minister of Commerce, Industry and Trade, Manqoba Khumalo, said the Business Forum was a result of a concerted efforts of the business sector; which has proven its commitment to the growth and development of the Eswatini business and economic growth.
Khumalo further thanked the Chief Executive Officer (CEO) and Chairperson of AeTrade Group, Mulualem Syoum, for his dedication and unwavering support to the development of ICT in Africa.

“We promise to do our best as a kingdom to effectively carry out the mandate of hosting Africa’s biggest digital platform,” Khumalo said.
In Africa, the need for e-commerce is dire as under the current circumstances, e-commerce could exacerbate exclusion rather than inclusion, putting African entrepreneurs at a disadvantage in the evolving digital economy.

The private sector and the civil society, according to Syoum, have to pave the road for the inclusive digital commerce, where men and women, of all ages, could benefit from inclusive digital trade, also known as eTrade for all.
He said: “As more and more consumers and firms turn to the internet, to buy and sell goods and services, online presence becomes vital.”

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