TECHNOLOGY ECONOMY, DEVELOPMENT

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

Technology plays a pivotal role in the development of an economy with its numerous changes contributing immensely to that growth in many ways. Technology promotes the usage of natural resources; many countries boast of a wide array of natural resources found beneath land and under water. Due to lack of know-how and ability to detect and retrieve them, numerous 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 governments to adequately access and utilise a wide range of natural resources efficiently, benefiting citizens, businesses and boosting the overall economy of a nation.

Recently we have witnessed an Eswatini national design and launched a mobile phone which is a communication device called Lukhele. This is one of the economic developments through technology that help keep businesses and people in contact. The Lukhele mobile device will promote the culture of predominantly exporting rather than importing which is a concept Eswatini and the rest of Africa need to adopt in its fullness to grow their 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 the utilization of machines powered by technology plummet the time needed to produce various goods and to decrease the delivery period for the 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 the 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 utilisation 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 a 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.

That is why Ministries of Information Communication and Technology in Africa and beyond are suggesting having policies in ICT that will bring to book those misusing the internet and social media. The use of technology in businesses has resulted in the expansion of industries. With the usage of technology, numerous institutions including governments 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.

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