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29 May 2019 | Story Elize Davids
Prof Petersen at National Press Club
Prof Petersen with members of the Press Club’s National Executive. From the left are: Reynold Thakuli, SANPARKS; Willem van de Putte, Saturday Star; Ntando Makhubu, Pretoria News (Chairperson) Jos Charle, Pretoria News and Lisa Dewberry, Freelance Communications Specialist.

The South African National Press Club recently hosted the University of the Free State’s Rector and Vice-Chancellor, Prof Francis Petersen, at a gathering of national media representatives and communication specialists in Pretoria. Following a recent, widely publicised opinion article about the importance of the youth vote, Prof Petersen reflected on the period following the national elections of 8 May 2019, sharing his insights from a higher-education perspective.

“The role of the modern university has shifted”, said Prof Petersen, as he outlined five things the UFS was actively pursuing through its Strategic Plan and Integrated Transformation Plan.

New Knowledge

The UFS will develop a new knowledge (research) industry. For South Africa to yield economic growth, it must support the growth of small and medium enterprise. The institution has an active role to play in yielding this new knowledge as reflected in its recent launch of the Agribusiness Transformation Programme with Standard Bank; Applying our knowledge in the Natural and Agricultural Sciences and Business; we will equip and empower 25 black commercial farmers in addressing food insecurity.  The annual Thought-Leadership Series during the Vrystaat Arts Festival in July 2019 will also address economic growth, entrepreneurship, and employment.

Practical Application 

“Once we have trained people for the economy and have delivered research, we must ensure that our knowledge is appropriately disseminated technical academic papers need to be converted to something useful, appropriate, and practically applicable”, he said. 

Public Discourse 

Creating a platform to address controversial issues in our society is what defines the UFS as a thought leader.  As demonstrated by the recent Gangster State Book Discussion by author Pieter-Louis Myburgh hosted by the Business School, the institution continues to demonstrate its’ commitment to intellectually engage society through public discourse. 

Projects 

The institution actively pursues interesting projects that will shift the thinking of general society, government and industry. “These address our response to transformation, informs strategic planning, and shapes our values as we create a new university citizenship – a transformed society of inclusivity and belonging,” he said. 

News Archive

Deputy Governor of SA Reserve Bank inspires students
2016-08-19

Description: Deputy Governor of SA Reserve Bank  Tags: Deputy Governor of SA Reserve Bank

Dr Lyndon du Plessis, Head of Department of Public
Administration and Management, Francois Groepe,
Deputy Governor of the South African Reserve Bank,
Prof Philippe Burger, Head of the
Department of Economics and B.Com Hons student,
Mosoeu Mabote.

Photo: Siobhan Canavan

Students from the Faculty of Economic and Management Sciences had the opportunity to learn from the best in the field when the Deputy Governor of the South African Reserve Bank, Francois Groepe, presented a seminar on the changing roles of central banks.

According to Groepe, we are currently living in challenging times as central banks are called on to do more.

“Central banks have limits, and these limits are not always understood,” he said on 11 August 2016 in the Equitas Auditorium on the Bloemfontein Campus.

How central banks contribute to inflation

There are two main generally-expected roles from central banks: the obvious one of providing bank notes and coins, and the other, maintaining price stability.

According to Groepe, the aim of keeping prices stable is to ensure easier planning for the future, and to assist the poor.

“The poor are the ones more vulnerable to higher inflation because they hardly have enough to get by,” he said.

A negative impact on monetary policies could affect the economy negatively. This is as a result of higher inflation caused by the increase in food prices.

Furthermore, the 12% government debt renders a negative yield in the economy.

The stability of finances in South Africa


Financial stability is not an end in itself, but, like price stability, is generally regarded as an important precondition for sustainable economic growth, development, and employment creation.

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