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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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Kovsie Dux student seeks to help farmers through her research
2017-10-24

Description: Dux student Tags: Kovsie Dux student, Chéri-Lynn Steyn, Research Assistant, Wag-'n-Bietjie, Animal Science & Agricultural Economics 

Chéri-Lynn Steyn, the Kovsie Dux student for 2016/2017,
likes going on game drives in the Kruger National Park
and taking photographs of birds with her brothers.
Photo: Jóhann Thormählen


From failing her first test at university to becoming the Kovsie Dux; from being a first-year in a tutor class to becoming a tutor   these are snippets from Chéri-Lynn Steyn’s journey at the University of the Free State (UFS).

Although she was not accepted into Medical School to pursue her childhood dream of studying Medicine, she has never looked back and now wants to guide farmers on how to be more efficient and sustainable.

Steyn, who studies BScAgric Animal Science and Agricultural Economics, was crowned the Kovsie Dux Student for 2016/2017. The award recognises and rewards the top-performing and all-round brilliant student. The criteria are a high academic average, coupled with excellent participation and excellence in extra-curricular activities like Community Service, Culture, Leadership and Sports.

Overcoming obstacles a highlight
The Research Assistant at Agricultural Economics says she cannot believe she is the winner. After three years at university, her CV includes 29 modules and 29 distinctions, but she is a well-balanced individual. She has been on the Agricultural Committee, First-Years Committee at Wag-'n-Bietjie residence, a class representative, is an interprovincial hockey umpire, and has cycled the Cape Town Cycle Tour and Telkom 94.7 Cycle Challenge.

Steyn recently looked back at her UFS journey: “From a layman who knew nothing about the agricultural industry, to someone who is able to understand and join in conversations about the industry,” she says. “My personal highlights are those small significant moments of overcoming obstacles.”

Effort less when you love what you do
She says her success is through grace and the Lord’s strength. “I endeavour to never compare myself to others, but set the standard against myself. This enables me to push myself harder and further than I did previously.”

Steyn also feels that when you love what you do, putting in a lot of effort is no effort at all. “My big dream is to be able to help farmers on a large scale through the research I do.”

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