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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

Dr Malete elected Chairperson of PanSALB
2010-09-06

Dr. Elias Malete

The Principal of UFS’s Qwaqwa Campus, Dr Elias Malete, was recently elected Chairperson of the Pan South African Language Board (PanSALB) at the 62nd General Board Meeting held in Pretoria. He is taking over from Prof. Sihawukele Ngubane from the University of KwaZulu-Natal (UKZN).

PanSALB is a constitutional body tasked with promoting and creating conditions for the development and use of eleven official languages in South Africa, including the likes of German, Greek, Gujarati, Hindi, amongst others.

“Our mandate going forward is to complement the good work that was done by Prof. Ngubane. We are charged with the responsibility of maintaining quality, respect, honesty and accountability in order to realise our new vision of promoting and ensuring respect for all languages commonly used by South African communities, including the Khoi, Nama and San languages, as well as South African Sign Language,” said Dr Malete.

“Our main focus in the next twelve months of office will be the development of programmes which will support PanSALB’s three-year strategic plan. These programmes will focus on administrative matters to ensure prudent financial and effective corporate governance of PanSALB, as well as aligning our structures like national language bodies, national lexicographic units and provincial language committees with the new strategic plan. This alignment is crucial if we are to create conditions for the development of all languages, thus promoting multilingualism and ensuring respect for all South African languages,” said Dr Malete.

Meanwhile, Dr Malete was invited by the Athens Institute for Education and Research to present a paper at the 3rd Annual International Conference in Literature, Language and Linguistics in Athens, Greece. His paper, Negation of adjuncts in Sesotho, was well received by the international audience.
 

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