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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 presents unique rally
2005-06-07

On Friday 10 June 2005, the University of the Free State (UFS) will present the Kovsie version of the Amazing Race in Bloemfontein.

The Amazing Rainbow Rally will be held in aid of children and babies with serious diseases in the Department of Pediatrics and Child Health in the Faculty of Health Sciences.

By raising the necessary funds, equipment can be acquired to meet the unique health care needs of these special patients.  It will also enable the UFS to maintain the high standards of education, training and research in this field.

 The Amazing Rainbow Rally will give some residents of Bloemfontein an opportunity to test their knowledge of the city, as well as their time management skills, communication skills, team work and even their relationships! 

About 12 corporate teams from among others Vodacom, Eskom, Medi-Clinic, Mimosa Mall and Nedbank and four university teams must follow a specific route with various checkpoints by car.  Here they will have to complete activities or solve clues before receiving their clue to the next checkpoint.  Teams will be traveling with cars branded with the logo of the company they represent.

The rally will start at 09:00 at the Rooiplein of the UFS and will again end on the campus where they will complete the last task.  The first team to complete this task is the winner of Bloemfontein’s first Amazing Rainbow Rally.

OFM’s breakfast team will do live crossings on the day to reveal how teams are doing.

The Department of Pediatrics and Child Health at the UFS serves children with special needs, in other words children who need intensive care, or who suffer from cancer, heart disease, neurological diseases and conditions, endocrinological diseases or gastro-enterological conditions.

The Department provides secondary health care to more than 250 000 children in the southern parts of the Free State, but is responsible for the tertiary care of about a million children in the Free State and Northern Cape, as well as some parts of the North-West province, the Eastern Cape and Lesotho.  The intensive care units at Universitas and Pelonomi Hospitals serve approximately 1 300 neonatal and 350 intensive care patients annually.  The pediatric cardiology unit admits almost 300 high care heart patients per year.  Approximately 13 000 out-patients visit these two hospitals every year.

MEDIA RELEASE

Issued by:  Lacea Loader
   Media Representative
   Tel:  (051) 401-2584
   Cell:  083 645 2454
   E-mail:  loaderl.stg@mail.uovs.ac.za

7 June 2005
 

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