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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. 

Governor Lesetja Kganyago, at a public lecture he presented at the UFS.
Governor Lesetja Kganyago, at a public lecture he presented at the UFS.
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Governor Lesetja Kganyago
Governor Lesetja Kganyago
Prof Phillippe Burger, Pro-Vice-Chancellor and Vice-Dean of Faculty of Economic and Management Sciences
Prof Phillippe Burger, Pro-Vice-Chancellor and Vice-Dean of Faculty of Economic and Management Sciences
Governor Lesetja Kganyago and Dr Engela van Staden, Vice-Rector:Academic
Governor Lesetja Kganyago and Dr Engela van Staden, Vice-Rector:Academic
From left;Prof Hendri Kroukamp, Dean of the Faculty of Economic and Management Sciences, Governor Lesetja Kganyago, and Prof Puleng LenkaBula, Vice-Rector: Institutional Change, Student Affairs
From left;Prof Hendri Kroukamp, Dean of the Faculty of Economic and Management Sciences, Governor Lesetja Kganyago, and Prof Puleng LenkaBula, Vice-Rector: Institutional Change, Student Affairs

News Archive

Six Kovsies included in Mail & Guardian’s top 200
2017-07-28

 Description: Karla Mostert Tags: Mail & Guardian, 200 Young South Africans, Candice Thikeson, Karla Mostert, Lerato Machetela, Mandela Rhodes Scholar, Thapelo Mokoatsi

The Protea Karla Mostert, who is busy with her master’s degree
in Dietetics at the UFS, experienced a wonderful year
on the netball court. Photo: Johan Roux 

Being on the Mail & Guardian 200 Young South Africans list for 2017, gives her a platform to share with South Africa what she does. This is according to Candice Thikeson. “I want to inspire people to follow their passion and pursue their dreams, and Mail & Guardian 200 Young South Africans allows me to do so.”

The art historian, who is included in the Arts & Entertainment category, is one of six current and former students of the University of the Free State (UFS) featured in the prestigious list. The others are Zola Valashiya (Civil Society), Lerato Machetela (Education), Thapelo Mokoatsi (Film and Media), Karla Mostert (Sport), and Nokuthula Sithole (Politics & Government).

Every year, the Mail & Guardian honours exceptional young citizens under the age of 35 who has made an impact in their respective fields. A special event for this year’s chosen ones was hosted at Emperors Palace in Johannesburg on 29 June 2017.

Making a statement for art historians
Thikeson, a Mandela Rhodes Scholar, Bright Young Mind, and recipient of the Abe Bailey Travel Bursary, says she feels honoured. “To me, this means that the impact I am making in the arts is being felt. There are very few art historians in South Africa, and because of this, people don’t often know what this profession entails.”

Inspiring people from all walks of life
She says the reaction from friends, family, colleagues, and acquaintances have been overwhelming. “The most heart-warming thing for me has been having men tell me that I inspire them. As women, we are often told that we are inspirations for little girls, but women can and do inspire, challenge, and motivate men too.”
She was appointed as a junior lecturer in the Department of Art History at the UFS in January. This, and being a Mandela Rhodes Scholar, is some of her career highlights. She is also enrolled for a research master’s degree in Art History and Image Studies.

UFS students on the Mail & Guardian 200 Young South Africans list:
• Zola Valashiya (Civil Society) – Co-founder and director, Debate Afrika
• Lerato Machetela (Education) – Psychologist
• Thapelo Mokoatsi (Film and Media) – Historian and academic
• Karla Mostert (Sport) – Netball player
• Nokuthula Sithole (Politics & Government) – Activist
• Candice Thikeson (Arts & Entertainment) – Art historian

View the Mail & Guardian 200 Young South Africans here. 

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