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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

Kovsie Open Day a resounding success
2010-05-05

 
 Photo: Gerhard Louw


The Kovsie Open Day 2010 that took place on the Main Campus of the University of the Free State (UFS) in Bloemfontein last week, was attended by more than 6 000 prospective students and their parents. This event was a resounding success. Thus report our prospective students, their parents, campus personnel, as well Prof. Jonathan Jansen, Rector and Vice-Chancellor at the UFS.

Parents and learners from across South Africa were firstly welcomed by Prof. Jansen, the Deans and Moses Masitha, the President of the Student Representative Council (SRC) in the Callie Human Centre. Thereafter they were afforded the opportunity to visit the various exhibitions in the faculties and residences. Parents and learners could also complete application forms for entrance to the UFS in the tent of the Division Corporate Relations on the Red Square. Liesl Cronje from Magaliesburg, who wants to come and study B.Sc.Agric. at Kovsies, was named as the winner of R3 000 by Corporate Relations after her application form had been selected in a lucky draw.

Residences and student organisations also had information points on the grass in front of the Main Building, where more information was given out to prospective students. Armentum, Vishuis and Karee won the first, second and third place respectively with their information points. The ladies’ residences Vergeet-my-nie, Emily Hobhouse and Soetdoring respectively boasted with the best information points.

The first official Kovsie slogan competition was also held and Madelief was appointed as the winner.

This day was held to provide prospective students and their parents with the opportunity to become better acquainted with the distinctive quality that the UFS offers its students. Staff and students also provided learners with the necessary information to enable them to make the right decisions regarding their career and studies next year.
 

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