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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 ICT Services mentioned among global PeopleSoft pioneers
2017-10-23

 Description: Andrew read more Tags: ICT services, technology, innovations, PeopleSoft, Oracle, students, IT, awards 

Andrew Jusjong, Chief Officer: ICT, one of the main drivers
of PeopleSoft at the UFS. 
Photo: Rulanzen Martin

At the beginning of his term, the Rector and Vice-Chancellor of the University of the Free State (UFS), Prof Francis Petersen, mentioned to parents and prospective students the importance of the UFS being recognised globally as innovators. 

This month, Information and Communication Technology Services (ICT Services) were recognised by Oracle as one of the PeopleSoft Innovators at the Oracle OpenWorld (an international conference regarding all Oracle products) for deploying student self-service, using PeopleSoft Campus Solutions’ new Fluid user interface.  

Andrew Jusjong, Chief Officer: ICT, says, “This solution allows dynamic administrative setup regarding available degrees, customised messages, dynamic required degree-specific documentation, and integration with the Applications and Admissions module.”  He says it also includes self-service functionality that allows students to track the status of their applications, and provide additional documentation required for their study choices.

“The UFS is the only innovator in the European, Middle-Eastern and African region. Considering that the development team at the UFS is much smaller than their international counterparts, this illustrates that we do not have to stand back for our international peers regarding service delivery and the quality of service to our customers,” he says.

The PeopleSoft Innovator awards are presented to companies that are taking advantage of the latest capabilities and technologies provided by Oracle PeopleSoft in order to transform their businesses and their IT practices, while also providing benefits to the business and end users. The UFS has been making use of PeopleSoft applications since 2004. It currently makes use of three applications:

- PeopleSoft Financials for procurement, budgeting, billing, asset management, general ledger, journals, provisioning, payroll, commitment control, ad hoc claims, travel and expenses, and maintenance management.
- PeopleSoft Human Capital Management for HR data processes, recruitment, workforce management, remuneration management, leave management, employee self-service, and other HR activities; and 
- PeopleSoft Campus Solutions for student lifecycle management, applications and admissions, curriculum management, programme enrolment, student records, student financials (accounts), financial aid, graduation, alumni management, graduate research management, residences, and student self-service.

In the Higher Education sector, PeopleSoft is being used by over 900 campuses in 34 countries, across six continents. “This means that recognition was given to the university on a global platform,” says Jusjong.

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