TL;DR: The Kingdom of Eswatini’s digital transformation is opening up the country to crypto adoption by providing fast and reliable internet access to businesses, public schools, and rural communities. This is making it easier for people to learn about and use cryptocurrencies, and is also creating new opportunities for crypto-based businesses to operate in Eswatini.
UN General Assembly Stable Development Speech
The Minister of Economic Planning & Development, Dr. Tambo Gina, at the UN General Assembly on the 19th of September 2023, said that they have allotted 1.6 billion dollars to create jobs. And then he added: “We want to use Digital transformation as a vehicle to ensure that no one is left behind. Therefore the programs that are to be used for providing fast and reliable internet connection for businesses, public schools and rural communities is a top priority.”
The Kingdom of Eswatini, formerly known as Swaziland, is a small landlocked country in Southern Africa. It is bordered by South Africa to the west and Mozambique to the east. Eswatini has a population of just over 1.1 million people, and is one of the poorest countries in the world.
Despite its economic challenges, Eswatini is undergoing a rapid digital transformation. In 2020, the government launched a five-year plan to digitize the country’s economy and society. This plan includes a number of initiatives, such as providing broadband internet access to all Eswatini citizens, developing e-government services, and promoting the use of digital technologies in businesses and schools.
The Kingdom of Eswatini’s digital transformation is opening up the country to crypto adoption in a number of ways. First, it is providing fast and reliable internet access to businesses, public schools, and rural communities. This is making it easier for people to learn about and use cryptocurrencies.
Eswatini Central Bank Currency
The digital transformation is creating new opportunities for crypto-based businesses to operate in Eswatini. For example, the government is considering launching a central bank digital currency (CBDC), and is also working on developing a regulatory framework for cryptocurrencies.
Overall, the Kingdom of Eswatini’s digital transformation is making the country more open to crypto adoption. This is a positive development, as cryptocurrencies have the potential to improve financial inclusion and economic growth in Eswatini.
Here are some specific examples of how the Kingdom of Eswatini’s digital transformation is opening up the country to crypto adoption:
- The government is working with a number of private sector partners to develop e-payment solutions that use cryptocurrencies. This would make it easier for people in Eswatini to send and receive money, both domestically and internationally.
- The government is also considering launching a CBDC. A CBDC is a digital currency that is issued and backed by a central bank. It has the potential to improve financial inclusion and economic growth in Eswatini by making it easier for people to access financial services.
- The government is working on developing a regulatory framework for cryptocurrencies. This would provide clarity for businesses and individuals who are interested in using cryptocurrencies in Eswatini.
The Kingdom of Eswatini’s digital transformation is still in its early stages, but it has the potential to make the country a leader in crypto adoption in Africa. The government’s commitment to digital transformation and its willingness to explore new technologies, such as cryptocurrencies, is a positive sign.
