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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

SAB World of Learning Brewery bid awarded to Kovsie Brewing
2017-11-28

Description: Kovsie Brewing 2 2017 Tags: Kovsie Brewing 2 2017 

Visitors from SA Breweries (AB InBev), Khosi Mogotsi,
Patience Selesho and Zinhle Ngcobo with
Dr Jan-G Vermeulen and Dr Errol Cason from
Kovsie Brewery.
Photos: Moeketsi Mogotsi

With the recent procurement of SAB by Anheuser-Busch InBev SA/NV (AB InBev), a Belgian transnational beverage and brewing company, the 500L educational brewery located at the SAB Cyril Ramaphosa World of Learning, became available for donation. After an initial shortlisting of three universities, the SAB World of Learning Brewery was awarded to the University of the Free State (UFS) to be managed by Kovsie Brewing.

Prof Corli Witthuhn, Vice-Rector: Research at the UFS, approved the application for a micro-manufacturing liquor licence right in the middle of campus, which effectively put the UFS bid in a class of its own. It is part of her vision that entrepreneurial activities must be visible on campus”

Sixteen universities were approached to obtain the brewery for their respective campuses.

Kovsie Brewing is an initiative started by postgraduate students at the UFS Department of Microbial, Biochemical and Food Biotechnology in 2012. The main objective of this initiative was to expose BSc students to brewing as a practical application of the scientific fields presented at the department.
 

Description: Kovsie Brewing 1 2017 Tags: Kovsie Brewing 1 2017 

Label mock-ups made by
Dr Jan-G Vermeulen from
Kovsie Brewery entered into
the yearly  SAB Intervarsity
Brewing Competition. Kovsie
Brewing has won the best label
competition in 2013, 2014 and 2015
and was placed in the top three in
2016 and 2017.


First brewing and fermentation school
Dr Errol Cason, project leader at Kovsie Brewery, said: “Over the past five years the small-scale experimental brewery has steadily grown to the point where we obtained institutional support to establish the first Brewing and Fermentation School at the university.

Dr Cason explains that the primary role of Kovsie Brewing is to establish an accredited fermentation-based curriculum at the UFS to educate undergraduate and postgraduate students in the scientific process involved in the production of beer. “In addition, the donation enables Kovsie Brewing to provide practical job-related training and skills development on industrial grade equipment,” he said.

Emphasis on entrepreneurship
The secondary role is for Kovsie Brewing to function as a multi-disciplinary platform to stimulate the interaction between students from various fields of study. Currently Kovsie Brewing has well-established cooperative projects with both Marketing and Entrepreneurship programmes.

“In the future, Kovsie Brewing will expand on these multi-disciplinary interactions by incorporating other departments of the UFS with the focus on product development, logistics, as well as the legal aspects concerned with brewing,” Dr Jan-G Vermeulen from the Kovsie Brewery team said.

Corporate social investment representatives from AB InBev recently visited the university. Among others they met Drs Vermeulen and Cason. During their visit they also looked at other university projects, including the Department of Paediatric and Child Health and the Universitas Hospital, the Engineering Sciences Department and the Naval Hill Planetarium.

Khosi Mogotsi from AB InBev said: “It was wonderful to experience the passion with which UFS staff do their work.”

 

 

 

 

 

 

 

 

 

 

 

 

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