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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

UFS Chemistry wins dti award
2010-11-02

At the awards ceremony are, from the left: Director-General of Trade and Industry Mr Tshediso Matona, Prof. Andreas Roodt and the Deputy-Minister of Trade and Industry, Ms Bongi Maria Ntuli.
Photo: S Osman

The research group of Prof. Andreas Roodt, Head of the Department of Chemistry at the University of the Free State (UFS) in Bloemfontein, won the first prize in the category Development of Small Medium and Micro-Enterprises (SMME) at the annual Department of Trade and Industry’s (dti) award ceremony.

Prof. Roodt received the prize for the high-technology project Development of novel nuclear pharmaceuticals in the Technology and Human Resources for Industry Programme (THRIP).

The Deputy-Minister of Trade and Industry Bongi Maria Ntuli, and Director-General Tshediso Matona presented the prize at the gala dinner held at Gallagher Estate, Gauteng in October 2010.

The dti’s Annual Technology Awards recognise excellence in research and aim to raise awareness on the benefits of using technology to improve the competitiveness of enterprises, within the local and global arena. Individuals and organisations are recognised for their efforts in advancing and promoting technology interests and emerging enterprises.

The technology awards cover the achievements of three of the dti technology programmes collectively, namely THRIP, managed by the National Research Foundation (NRF); the Support Programme for Industrial Innovation (SPII) managed by the Industrial Development Corporation (IDC); and the Small Enterprise Development Agency (seda) Technology Programme (stp).

Prof. Roodt, also vice-president of the European Crystallographic Association, who has just returned from a series of lectures abroad after being elected Fellow of the Royal Society of Chemistry in the UK, has received funding in excess of R3 million over the past two years to set up a specialised laboratory for synthesising active compounds. Key partners in this project are Dr Gerdus Kemp from PETLabs Pharmaceuticals in Pretoria; Prof. Connie Medlen (pharmacologist), recently appointed affiliate professor at UFS Chemistry; as well as Prof. Deon Visser from the Inorganic Chemistry research group at the UFS.

The research aims to produce new nuclear medicinal agents for the early diagnosis of cancer, heart and brain defects, and even HIV/ Aids.

Two doctoral students, Alice Brink and Marietjie Schutte, are currently actively involved in this project. They are the recipients of prestige scholarships introduced by the UFS Rector and Vice-Chancellor, Prof. Jonathan Jansen, under the UFS Research Initiative (the Advanced Biomolecular Systems Cluster) to complete their Ph.D. studies.

Media Release
Issued by: Lacea Loader
Director: Strategic Communication (actg)
Tel: 051 401 2584
Cell: 083 645 2454
E-mail: loaderl@ufs.ac.za  
2 November 2010

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