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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. 

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Mpofu-Walsh inspires with music, word, and wisdom
2017-08-22

Description: TEDxUFS   Tags: TEDxUFS

Sizwe Mpofu-Walsh shared with the audience the
creative process of writing a song at the 2017
TEDxUFS conference.
Photo: Voxomnia

“Sometimes it’s the parts of us that give us the most agony, the parts of us that we think we need to change to conform to other people’s expectations, which are actually the gateways which allow us to make an impact in the world.”

This encouragement from Sizwe Mpofu-Walsh was one of the highlights of the 2017 TEDxUFS conference. According to the author, musician, and activist, we should embrace every part of ourselves. We should understand that the way in which each of us can change the world, is by becoming one with all the different parts of us which people think can’t come together.

Audience hears project for first time

For the first time ever, Sizwe shared material from his project Democracy and delusionwith an audience at the 4th annual TEDxUFS conference in the Odeion Theatre at the University of the Free State on 5 August 2017. Other speakers included the likes of Murendeni Mafumo, founder of Gentle Giant, and Elijah Djan, CEO and inventor of Nubrix.

The event also included TEDx videos, breath-taking performances, and cutting-edge technological exhibitions. The theme was Prism of Possibilities.

Launching a book and album together

Sizwe shared how he, while studying at the University of Oxford, embarked on an ambitious project where he combined his passion for academics and music: To release a book and album about the same things at the same time.

The project is a reflection of the political landscape in South Africa. Sizwe showed how he created a song about student protests by putting different layers of music together.

“The only way to do something that will leave you truly remembered is to do something different. It is to take all of yourself and pour it into the creative pursuit that you produce.”

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