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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

Two UFS architecture students won prestigious PG Bison 1.618 Competition
2017-10-26

 Description: Bison read more Tags: : Stephan Diedericks, Department of Architecture, Margaux Loubser, Kobus du Preez, Zack Wessels, PG Bison 1.168 Competition 

At the PG Bison 1.618 competition awards ceremony
in Rosebank, were from the left:
Camrin Plaatjes from the University of KwaZulu-Natal;
Stephan Diedericks, winner of the competition;
and Margaux Loubser,
the second-place winner. Both Stephan and
Margaux are studying Architecture at the UFS.
Photo: Supplied



Food that reaches its sell-by date in supermarkets is usually disposed of, but has not yet reached its best-before date.  What happens to this food?  According to Stephan Diedericks, the answer to this is for this food to be repurposed.

Not only does Stephan want to prevent the waste of food – in a world where food security is a challenge – but he also won the prestigious PG Bison 1.618 Competition with his entry in which he suggests that gourmet meals be prepared from food that has reached its sell-by date, and then be served in the Delta Recycletorium. 

Students introduced to park lands in urban areas
Diedericks is a student in the Department of Architecture at the University of the Free State (UFS). Second-place winner in this competition was Margaux Loubser, also a UFS student. Another UFS student, Dehan Kassimatis, was a finalist. They received their awards at a ceremony in Rosebank, Johannesburg, earlier this month. 

The competition, now in its 24th year, was created to recognise the future interior and industrial designers, architects, and key decision-makers in the South African construction industry. It is known not only for the prestige it offers its winners, but also for the tradition-defying brief given to the students each year.

According to lecturers Kobus du Preez and Zak Wessels, in the Department of Architecture, the competition introduced the students to parklands in urban areas. He quotes the competition brief: “Rural to urban migration with the development of commercial and residential property elevates the importance of parklands within cities, in creating a refuge from the hustle of daily life.  These areas are leveraged to encourage healthier living, community interaction and environmental awareness.”

Learning experience more important than prizes
The site that was the focus of the competition is the Environmental Centre, Delta Park Heritage Precinct in Johannesburg. Students needed to transform this old building into a vibrant gastronomic restaurant. “The theme and style of the restaurant was for the student to choose,” said Du Preez. 

Loubser called her restaurant Rooted – a wholefood restaurant.  She was influenced by the geometries of the original Art Deco building. Rooted articulates and integrates the space between nature and the building.  Similar to an Art Deco painting or poster, the landscape is abstracted into terraces which are used to grow vegetables organically.  Vertical green screens soften the divide between the building and its surroundings and it provides shade.

“Our students took their clues from the existing environment and integrated it with a single idea, an abstract concept, which impressed the judges,” Du Preez said. 

Although this is a competition that is well reported in the industry press, Du Preez and Wessels agree that the learning experience for students is much more important than winning the contest. The competition’s brief aligned well with the Department of Architecture’s learning content with its urban focus.

Jacques Steyn, a UFS architecture student, came third in the competition in 2015.

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