BY LINDELWA MYENI
EZULWINI– Eswatini businesses looking beyond the country’s borders now have new tools to help them answer some of the most important questions in business: Where is the demand? Who are the potential buyers? What does it take to enter that market?
Minister of Commerce, Industry and Trade Manqoba Khumalo says two newly launched digital trade and investment intelligence platforms have been designed to give businesses, exporters and investors access to information that can help turn opportunities into informed commercial decisions.
The Investment Attractiveness Dashboard and Market Intelligence Dashboard were officially launched at Royal Villas in Ezulwini through a partnership involving the Ministry of Commerce, Industry and Trade, Eswatini Investment Promotion Authority (EIPA) and International Trade Centre (ITC), with financial support from the European Union.
For local businesses, particularly those looking to export, the significance of the platforms goes beyond simply having more information available online.
They are intended to help businesses understand where demand exists internationally, identify promising markets, learn the requirements for entering those markets and make better decisions before committing money and resources.
Khumalo said reliable information had become a powerful economic asset, particularly in an increasingly competitive global marketplace.
He said the difference between having the right information and operating without it could determine whether a business successfully enters an international market or runs into barriers that could have been avoided.
It could also influence whether an investor chooses Eswatini as an investment destination or takes their capital elsewhere.
The Minister said Government viewed the new platforms as part of broader efforts to create an enabling environment for business, expand trade opportunities, improve export competitiveness and attract investment into the country.
The Investment Attractiveness Dashboard brings together economic, trade, investment and business-environment indicators in one place.
According to Khumalo, this will strengthen the information Government uses when promoting Eswatini as an investment destination while also giving EIPA another tool to use when engaging prospective investors.
Potential investors will similarly be able to access relevant information about Eswatini more easily when considering investment opportunities in the country.
For local businesses, the Market Intelligence Dashboard could prove particularly useful.
It provides practical market information as well as access to selected ITC tools and resources that businesses can use to explore international markets and understand the conditions they would need to meet before exporting.
Khumalo challenged businesses to change the way they approach exports.
Rather than starting with the question, “What can we export?”, he said businesses should establish where demand already exists for what they produce.
They should also determine which markets offer the strongest opportunities, what standards or conditions they must meet, who potential buyers are and what rules govern entry into those markets.
“These are much more commercially useful questions and the more effectively we can answer them, the better positioned our businesses are to make informed decisions,” Khumalo said.
The Minister said giving Government, business-support institutions and the private sector access to credible information could also improve coordination across the economy.
Government, he explained, could use the information when determining policy and trade and investment priorities, while EIPA could strengthen both investment promotion and business support.
Exporters, meanwhile, could use the intelligence to identify markets and prepare themselves before entering them, while investors could obtain information needed when assessing opportunities in Eswatini.
Khumalo urged entrepreneurs and established businesses alike not to allow the platforms to become tools that exist but are rarely used.
“For every business owner, these tools were crafted for you. I encourage you to dive in, join our training sessions, explore the platform and make data-driven decision-making a core part of your business strategy,” he said.
Businesses will also be able to access free certified training on ITC Market Access tools, giving users an opportunity to strengthen their ability to interpret and use trade information professionally.
However, Khumalo cautioned against seeing digitalisation itself as the achievement.
He said the real measure of success would be whether the platforms lead to better business decisions, stronger companies, improved competitiveness and investment that produces meaningful economic activity.
“The objective is not to have more dashboards. The objective is to have better decisions, have more businesses using information to compete and to attract investment that contributes to productive economic activity, strengthens linkages with the domestic economy and supports sustainable growth,” he said.
The Minister thanked the European Union for financing the development of the tools and recognised the International Trade Centre for contributing its global trade intelligence expertise.
He also credited EIPA with helping ensure that the platforms respond to the practical needs of Eswatini’s investment and export community.
Khumalo said cooperation between Government, EIPA, ITC and the EU demonstrated how partnerships could strengthen the country’s capacity to compete for international trade and investment opportunities.
He left businesses with a challenge to make use of the information now being placed at their fingertips.
“Let us therefore move from information to intelligence, from intelligence to action, and from action to opportunity,” Minister Khumalo said.
(Courtesy Pic)
