Dig­i­tal econ­omy to max­imise op­por­tu­ni­ties

Swazi Observer - - BUSINESS - By Ma­jaha Nkonyane

UNIVER­SITY of Eswa­tini Vice Chan­cel­lor (VC) Pro­fes­sor Jus­tice Th­wala is see­ing op­por­tu­ni­ties in dig­i­tal econ­omy, as he noted that it will max­imise op­por­tu­ni­ties in the coun­try.

This was dur­ing World Com­pe­ti­tion Day that was hosted by the Swazi­land Com­pe­ti­tion Com­mis­sion (SCC) at the univer­sity. “The age of dig­i­tal­iza­tion driven by the in­ter­net and char­ac­terised by au­to­ma­tion and dig­i­tal­i­sa­tion of ac­cess to both goods and ser­vices has brought with it un­prece­dented com­plex­ity.

Play­ers

“This en­ables play­ers to ex­ploit and max­imise op­por­tu­ni­ties in var­i­ous mar­kets,” he said. Ac­cord­ing to Th­wala, the dig­i­tal age is of­ten re­ferred to as the ‘age of dis­rup­tion’ as it is char­ac­terised by rapid trans­for­ma­tion spurred on by rapid in­no­va­tion, in­creas­ingly glob­alised mar­kets and an un­prece­dented ease of trans­act­ing from an eco­nomic per­spec­tive which has, in some coun­tries, ac­counted for mas­sive eco­nomic growth. The VC also said in dig­i­tal spa­ces in­no­va­tion has led to con­sumer ben­e­fits such as greater prod­uct va­ri­eties and com­pet­i­tive prices. “In essence dig­i­tal, spa­ces are highly com­pet­i­tive en­vi­ron­ments. Though the ben­e­fits of dig­i­tal­i­sa­tion are in­nu­mer­able, it has a fair amount of unique chal­lenges. Reg­u­la­tors face the task of hav­ing to reg­u­late ter­ri­to­ries formerly un­char­tered. This poses a de­gree of dif­fi­culty. Reg­u­la­tors are per­pet­u­ally faced with the task of en­sur­ing that their meth­ods of reg­u­la­tion are suited to the rapidly trans­form­ing world that dig­i­tal­i­sa­tion cre­ates,” he said. Ac­cord­ing to SCC’s le­gal ad­vi­sor Them­be­lihle Dube, who was mak­ing a pre­sen­ta­tion dur­ing the com­mem­o­ra­tion, com­pe­ti­tion is not meant to frustrate busi­ness but was meant to grow the econ­omy. Dig­i­tal econ­omy ac­cord­ing to Dube, is based on dig­i­tal mar­kets that use tech­nol­ogy and fa­cil­i­tate trade of goods and ser­vices through the use of e-com­merce.

Pics by Ma­jaha Nkonyane.

SPEECH: Univer­sity of Eswa­tini Vice Chan­cel­lor (VC) Pro­fes­sor Jus­tice Th­wala mak­ing his re­marks whilst the CEO of Swazi­land Com­pe­ti­tion Com­mis­sion Thab­sile Langa looks on. This was dur­ing the com­mem­o­ra­tion of World Com­pe­ti­tion Day at UNESWA. (r) IN AT­TEN­DANCE: SCC staff mem­bers lis­tenig to one of the speak­ers.

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