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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

Equipment worth R23 million to carry out research at nanometer level
2009-05-28

The Department of Physics at the University of the Free State (UFS) has just received equipment to the value of R23 million that will be utilised for research at nanometer level.

By purchasing the NanoSAM and VersaProbe XPS systems, the UFS also became the only university in Africa that has both these instruments at its disposal.

This also places the UFS at the forefront of surface characterisation at nanometer scale.

Prof. Hendrik Swart, Head of the UFS’s Department of Physics, described the acquisition of this research apparatus as an amazing event for the department. Prof. Swart said this meant that the department would now become a national facility for research on surface characterisation, and that this would also help to ensure that the department’s publication contributions would be included in higher-impact publications.

According to Prof. Swart, this apparatus would not only be valuable for fundamental research on nanophosphors and segregation, but in particular would also assist in the industrial development of better catalysts to synthesise petrol and chemicals from gas or coal supplies. Prof. Swart continued to say that Sasol was one of the industries that would benefit from this, and that Prof. Jannie Swarts from Chemistry was closely involved in the latter.

The equipment was purchased with funds donated by the Faculty of Natural and Agricultural Sciences, the University, the National Research Council and Sasol. Technicians from the manufacturing company are currently visiting the department to assist with the installation and to train staff.

Media Release:
Mangaliso Radebe
Assistant Director: Media Liaison
Tel: 051 401 2828
Cell: 078 460 3320
E-mail: radebemt.stg@ufs.ac.za
28 May 2009

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