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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

Prof. Jansen is a "charmer", say students
2010-09-14

Prof. Jansen with Transport personnel.
Prof. Jansen with a B.Ed. student, Nokubonga Mdlalose.
Prof Jansen with Mr Samuel Mensah.
Prof Jansen with Sibusiso Macu, Sindiswa Masango, Mbali Phakathi and Masebabatso Mofokeng.
Prof. Jansen with Ms Mtombeni (in a white coat )

CHARMING, DOWN TO EARTH, STREEWISE … these are some of the words staff and students on the Qwaqwa Campus used to describe our Rector and Vice-Chancellor, Prof. Jonathan Jansen during his recent courtesy visit to the campus.

Prof. Jansen easily mingled and joined in conversations like a person who was acquainted to the groups of friends that he spoke to. Topics ranged from “girlfriends and boyfriends, how easy or difficult that course was, this and that party”, and of course serious academic talk.

“Prof. Jansen jokingly asked me about my white coat and whether I was a medical doctor. And when I answered that I am a cleaners’ supervisor, he became more interested in what I had to tell him,’ said Ms Dineo Mtombeni, a Maintenance Services supervisor.

“He continued to praise me and my colleagues for the cleanliness on campus and I must say he showed that he is a caring person, despite his position,” concluded Ms Mtombeni.

“I was happy to see Prof. Jansen chatting informally with students and staff. I asked him what he thought of our campus and he said he would know it better once he started teaching here once or twice a week,” said Mr Samuel Mensah, Economics lecturer.

“I then invited him to present some Economics classes and he roared with laughter about the difficulty of dealing with our micro and macro aspects of the subject and I asked him to keep it down as that would justify my students’ fear of the subject,” laughed Mr Mensah.

“He is a nice and friendly person,” said a 19-year-old Bachelor of  Commerce student Masebabatso Mofokeng.

“We shared a joke or two with him and it was one of our best experiences here on campus,” added friends, Sindiswa Masango (19) and Mbali Phakathi (19), who are also studying for their Bachelor of Commerce degrees.

A Bachelor of Education student, Nokubonga Mdlalose (20) described Prof. Jansen as a ‘charmer’.

“He is generous with his time, despite the high position that he occupies. He is approachable, friendly, charming, cool, calm and collected,” said Nokubonga.

“He asked me about my studies and I told him I wanted to make a difference in as far as teaching science is concerned. He was very interested in my Biology experiments and I am so glad I met him,” concluded Nokubonga.

– Thabo Kessah

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