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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

UFS academics serve high in ranks of Cereal Science institutions
2017-10-10

Description: Cereal Science Tags: Cereal Science

Dr Angie van Biljon, Senior Lecturer in the Department of Plant Sciences at the University of the Free State (UFS), was elected as president of Cereal Science and Technology South Africa (CST-SA) at their bi-annual general meeting, in Pretoria.

Prof Maryke Labuschagne, Professor in Plant Breeding at the UFS and official representative of South Africa in the American Association for Cereal Chemists International from 2007, was re-elected as the South African representative to the American Association for Cereal Chemists. She attends the annual conference in the US as well as the International Association for Cereal Science and Technology (the European counterpart of AACC) regularly. “I use these conferences to report on the research done by the research team at the UFS on gluten protein, baking quality and nutritional value of cereals,” she said.

Prof. Labuschagne was also involved in a training course for the baking industry. 

Both Dr Van Biljon and Prof Labuschagne are involved in research on wheat gluten proteins, which is critical to the baking industry. CST-SA is a platform to disseminate this and other research, not only locally but also internationally. The aim of this society is to advance cereal science and technology both in the public sector and in the industry of Southern Africa.

CST-SA creates an opportunity for staff and
students working on cereals to interact
with the industry. This prevents research
from being just academic and creates
an opportunity to bring the research and the
industry together.

Wheat research not just academic
According to Prof Labuschagne CST-SA creates an opportunity for staff and students working on cereals to interact with the industry. This prevents research from being just academic and creates an opportunity to bring the research and the industry together. This has been very useful for students at the university working on cereals, as they have made presentations at the “New Voices” symposium, a forum for postgraduate students to present their research.

“Through CST-SA we have also, through the years, presented our research on an international level at the annual meetings of the American Association for Cereal Chemists and the International Association for Cereal Science and Technology,,” said Prof Labuschagne.

The science of cereals
CST-SA is an association of organisations and individuals, from both the private and public sectors, who are actively involved in the science and technology of cereals. Its aim is to promote the dissemination of knowledge and information on cereal science and technology through meetings, publications, workshops and other means. CST-SA also organises training courses for the industry. In the past years there was a course for the baking industry and one for the milling industry and also the “New Voices” symposium”.

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