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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. 

Governor Lesetja Kganyago, at a public lecture he presented at the UFS.
Governor Lesetja Kganyago, at a public lecture he presented at the UFS.
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Governor Lesetja Kganyago
Governor Lesetja Kganyago
Prof Phillippe Burger, Pro-Vice-Chancellor and Vice-Dean of Faculty of Economic and Management Sciences
Prof Phillippe Burger, Pro-Vice-Chancellor and Vice-Dean of Faculty of Economic and Management Sciences
Governor Lesetja Kganyago and Dr Engela van Staden, Vice-Rector:Academic
Governor Lesetja Kganyago and Dr Engela van Staden, Vice-Rector:Academic
From left;Prof Hendri Kroukamp, Dean of the Faculty of Economic and Management Sciences, Governor Lesetja Kganyago, and Prof Puleng LenkaBula, Vice-Rector: Institutional Change, Student Affairs
From left;Prof Hendri Kroukamp, Dean of the Faculty of Economic and Management Sciences, Governor Lesetja Kganyago, and Prof Puleng LenkaBula, Vice-Rector: Institutional Change, Student Affairs

News Archive

UFS experimental farm to be redesigned as a training facility
2004-10-25

Back fltr:
Dr Léan van der Westhuizen, Manager: UFS Sydenham Experimental Farm; Prof Herman van Schalkwyk, Dean: Faculty of Natural and Agricultural Sciences at the UFS and Councilor Thami Stander, Chairperson: Mangaung Municipal Portfolio for Agriculture and Rural Development

Front fltr:
Mr Hanz Nketu, Chairperson: Free State Legislative Committee on Agriculture and Mr Peter Frewen from the Free State Legislature

The Faculty of Natural and Agricultural Sciences of the University of the Free State will soon sign a tri-partite cooperation agreement with the National African Farmers Union (NAFU) and the Mangaung Local Municipality with the aim of providing training and mentorship to small-scale and emerging farmers, including those recently settled under the on-going land redistribution programme.

The agreement is part of the Faculty’s strategic plan to support the on-going reform process in the country, of which Black Economic Empowerment in Agriculture (Agri-BEE) is an important part. The Free State Provincial Department of Agriculture is also actively supporting this initiative.

Under the plan, the Faculty is redesigning its experimental farm, located about 12 kilometers south of Bloemfontein, as a training facility to build up skills in among others broiler and egg production, dairy farming, animal husbandry, piggery, sheep and goat production. The idea is to introduce a comprehensive package that empowers the small and emerging farmers and the local communities adjoining the farms through simultaneous investments in research, extension, and practical agricultural training.

Learnerships are also being drawn up to provide productive skills in order to contribute to addressing the national skills gap and enhancing opportunities for both self and wage employment.

The residents of the adjoining informal settlement known as Mangaung Phase II where unemployment is currently at extremely high levels are primary targets of this component of the project. The Faculty intends for this project to service the farming communities of the Free State Province and gradually spread to other Provinces in the country.

Having recognised this training programme as a potential instrument for achieving “a united and prosperous agricultural sector”, the Free State Legislature has shown considerable interest in the programme.

Following a preparatory visit to the farms by the Agriculture Committee of the Free State Legislature a request was made to the Faculty to host a larger visit by the Legislative Committees of the Free State, North West and Eastern Cape Provincial Legislatures on Monday 25 October 2004 and present details of the training programme.

The President of NAFU in the Free State Province, Mr Nox Nonkonyana, the Dean of the Faculty of Natural and Agricultural Sciences, Prof Herman van Schalkwyk, the Chair of the Mangaung Municipal Portfolio for Agriculture and Rural Development, Councilor Thami Stander, and the Chairperson of the Free State Legislative Committee on Agriculture, Mr M Nketu, will address the Legislators during the occasion.

Prof Herman van Schalkwyk

Dean: Faculty of Natural and Agricultural Sciences

University of the Free State, Bloemfontein

Media release
Issued by: Lacea Loader
Media Representative
Tel: (051) 401-2584
Cell: 083 645 2454
E-mail: loaderl.stg@mail.uovs.ac.za
25 Oktober 2004

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