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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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UFS hockey teams crowned as Free State hockey champions
2009-09-21

The University of the Free State’s (UFS) men’s and women’s hockey teams were recently crowned as the Free State hockey champions during the championship that took place on the university's astro fields in Bloemfontein.

Kovsie women defeated Raiders (the defending champions) 6-0 and the Kovsie men’s hockey team successfully defended their title against Tweespruit. During a penalty shootout UFS Reds beat the team of the Central University of Technology (CUT 1) 8-7, thereby ending in the third position.

Very early on the Kovsie women’s hockey team showed that they wanted to break the five-year drought without a trophy and within the first ten minutes they took the lead with 2-0 against Raiders. Liza Dreyer scored her first two goals out of four and from that moment on the Raiders were with their backs against the wall. With the score of 4-0 at halftime it was clear that Kovsies would have a second trophy in their cupboard after their recent success during the USSA championships. After halftime, Odie Swart scored another goal from a penalty corner and Liza scored her fourth goal, to bring the end score to 6-0. Malisa Kala was the other Kovsie who scored a goal.

Odie Swart, captain of the Kovsies played her last match for the Kovsies with Cat van Zuydam. She excelled in the attack as well as in the defence.

The Kovsies men’s hockey team has now done it three out of three times! Within the first twenty minutes the Kovsies men’s hockey team defeated Tweespruit with brilliant hockey by scoring three goals. Luke Sanan (2) and Kurt Henzberg (1) scored the goals. All three the goals were well-executed field goals. The current Kovsie team is surely the best-rounded hockey team that the Free State has had over the last ten years. In the past three years the students played in more than 45 club matches and they did not lose one match!

With the joy also comes sadness. For Braam van Wyk it was his last match as coach of a Kovsie team. For the past 17 years Braam has been involved with Kovsie hockey, in which he led the girls to twelve victories in the Free State league. The last three years he managed the men’s team, who won the league for the past three consecutive years, indeed an achievement. With Braam, three other senior players of the past three years made their last appearance for Kovsies. They are Morne Odendaal, Renaldo Ogle and Braam van Wyk (jr.).

Literally during the last moments of their game against CUT 1, the UFS Reds, who were 1-4 behind, scored a goal, which brought the final score to 4-4. The Kovsie students won the penalty shootout with 4-3, thereby winning 8-7 and thus ending third in this year’s men’s Free State league. 
 

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