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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 closes pedestrian entrances to improve safety on campus
2010-08-05

The University of the Free State (UFS) will remove pedestrian gates on its Main Campus in an extra effort to improve safety on this campus.

It was decided to implement this plan because the campus covers a huge area and people who are not part of the campus community hang around on the campus, sometimes causing damages. This idea is also strongly supported by students, in particular with regard to the removal of the pedestrian thoroughfares close to the hostels.

The following pedestrian gates will not be removed:

- The pedestrian thoroughfares on both sides of the DF Malherbe Gate (next to the Faculty of Health Sciences). Both the main gate and the pedestrian thoroughfares at the DF Malherbe Gate remain open 24 hours a day.
- The pedestrian thoroughfares at the Badenhorst Street Gate (close to Roosmaryn Residence). The Badenhorst Gate is not open 24 hours a day, but the pedestrian thoroughfare will remain open 24 hours a day.

The following pedestrian thoroughfares will be removed with effect from 1 September 2010:

- The pedestrian thoroughfare to the east of Pellies Park
- The pedestrian thoroughfare to the west of Pellies Park (directly behind JMB Hertzog Residence)
- The turnstile between the Kovsie Church and the Wynand Mouton Gate
- The pedestrian thoroughfare behind the tennis courts
- The pedestrian thoroughfares behind the rugby fields

A request was also directed at the Kovsie Church to close down the pedestrian thoroughfare between the Kovsie Church and the UFS. This gate will then be opened during church activities.

From 1 September 2010, the personnel of Security Services will regularly patrol the fences. Trespassers that flatten the fencing to enter the campus will be prosecuted.

Students, personnel and visitors are encouraged to make use of the main entrance gates of the UFS. These include the Main Gate (in Nelson Mandela Drive), the Wynand Mouton Gate (in DF Malherbe Drive), the DF Malherbe Gate (in Wynand Mouton Drive), the Badenhorst Street Gate (close to Roosmaryn Residence) and the Furstenburg Gate (in Furstenburg Road).

Media Release:
Mangaliso Radebe
Assistant Director: Media Liaison
Tel: 051 401 2828
Cell: 078 460 3320
E-mail: radebemt@ufs.ac.za
5 August 2010

 

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