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06 March 2020 | Story Valentino Ndaba | Photo Stephen Collett
Lesetja Kganyago, Governor of the South African Reserve Bank
Reserve Bank Governor, Lesetja Kganyago, presented a public lecture at the UFS on 4 March 2020.

With a 7% fiscal deficit on the Gross Domestic Product (GDP) projected by the National Treasury for the 2020/21 financial year, it would not take long to arrive at a dangerous level of debt at the rate that South Africa is borrowing. Although the South African Reserve Bank Governor, Lesetja Kganyago, does not consider a debt to GDP rate of 60% a disaster, he did express his concern regarding the country’s fiscal deficits being over 6% of the GDP.

Governor Kganyago presented a public lecture at the University of the Free State (UFS) on 4 March 2020, focusing on how we should use macro-economic policy and its role in our economic growth problem.

Unsustainable policies 
South Africa’s fiscal situation is not about tight monetary policy. According to the Governor: “Weak growth is endogenous in our fiscal problems. We cannot keep doing what we are doing and hope that growth will recover and save us. Growth is low, in large part, because of unsustainable policy.”

Avoiding an impending crisis
To address the problem, as a policymaker with more than 20 years’ experience, the Governor suggested that the recommendations made by Minister Tito Mboweni be taken into consideration. “The Minister of Finance, Tito Mboweni, is a man who says things that are true even when they are unpopular. His message is that we have to reduce spending and he is right to put this at the centre of our macro-economic debate,” said Governor Kganyago.

The state needs a radical economic turnaround strategy which is able to diminish the risk of losing market access and being forced to ask the International Monetary Fund for help. Governor Kganyago is positive that such a reformative tactic would go beyond monetary policy and ensure that the interest bill ceases to claim more of South Africa’s scarce resources. 

News Archive

Future Kovsies explore Qwaqwa Campus
2017-05-26

Description: Qwaqwa Campus Open day 2017 Tags: Qwaqwa Campus Open day 2017

Description: Qwaqwa Open Day learners Tags: Qwaqwa Open Day learners

Learners from Molapo Secondary School in
Makoane, Qwaqwa, during Open Day.
Photo: Thabo Kessah

AMAZING! This is just one of the words used by prospective Kovsies to describe their experience, when thousands of learners visited the Qwaqwa Campus for this year’s Open Day on Saturday 20 May 2017.

“Spending time on campus and learning what the university offers even beyond academics was such an amazing experience,” said a prospective Political Studies and Governance student, Kamohelo Mofokeng from Bluegumbosch Secondary School in Qwaqwa.

“We explored both academic and support services, and getting to see and listen to motivating words from eTV stars was unforgettable,” she added. “The event was informative and many of our learners even managed to apply online using university facilities,” said Modiehi Masita, Life Orientation teacher at Tsebo Secondary School in Boiketlo, Qwaqwa.

First step in the right direction

Talking to learners, Campus Principal Prof Prakash Naidoo said their visit was the first step in the right direction.

“This is the first step towards attaining your dream qualification. You have to work hard to build yourself a career, and not aspire to be what is commonly known as a tenderpreneur,” he said. “You have come to this campus when men need to stand up and not bury their heads in the sand, as we are faced with abuse and killings of women and children. We must all stand up to abuse,” he said under resounding appreciation from learners and their teachers.

Also talking to the learners were TV stars from eTv’s Rhythm City and Scandal.

I can and I will make it
‘I can and I will make it’ led by Mapula Mafole was adopted as the war cry towards the examinations and success in life for the class of 2017. Mafole plays the role of Mapula in the TV series Rhythm City. She was accompanied by Ishmael Sango and Nkosi Cengane, who respectively play Sabelo and Emmanuel in Rhythm City, and Mbulelo Katise who plays Scelo in Scandal.

Qwaqwa Campus alumnus and hip-hop artist, TactixSA, provided entertainment.

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