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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

Autumn graduation a huge success
2012-04-04

 

Proud academics celebrate their child's achievement.
Salomé Naudé received her B.Med.Sc-degree. Her parents are Prof. Jacobus Naudé and Prof. Cynthia Miller-Naudé. (Senior Professors from the Department of Classical and Near Eastern Studies.
Photo: Leonie Bolleurs
2 April 2012


The University of the Free State (UFS) hosted its autumn graduation ceremony on the Bloemfontein Campus last week where the most diplomas, certificates and degrees were awarded at eight different ceremonies in the Callie Human Centre.
A total of 629 diplomas and certificates and 2856 degrees were awarded from Tuesday 27 March 2012 to Friday 30 March 2012.

“Use your degree to improve the lives of people. Do justice,” Prof. Jonathan Jansen, UFS Vice-Chancellor and Rector, encouraged the graduates.

“People know it as a university that chooses restoration over revenge and forgiveness over vengeance.”
Mr. Roland Rudd, a Kovsie alumnus, told students that their blood, sweat and tears had paid off.

Mr. Rudd is a former education student who recently was named the Best Secondary Teacher in the Western Cape.
A highlight of the autumn graduation was when Natalie Jordaan received a standing ovation during the ceremony for the Faculty of Economic and Management Sciences. She is the first Deaf student in the history of the university to receive her degree. Natalie’s first language is Sign Language.
Marina Viljoen, a recipient of one of the university’s 12 Dean’s Medals, also received nine awards at the Faculty of Law’s prize giving ceremony. She was awarded the degree LL.B. (summa cum laude).
Johané Nienkemper (B.Sc. Hons.) received the Senate’s Medal and Prize as the best honours student at the UFS, as well as the Dean’s Medal as the best honours student in the Faculty of Natural and Agricultural Sciences.

Potella Sibongile, a Xhosa imbongi (praise singer) and UFS student received his degree in B.Com.Financial Administration. Potella delivered a praise poem to the graduates before they received their degrees, saying they “will now receive a new birth certificate”.

Master’s degrees and doctorates will be conferred at the Bloemfontein Campus on Thursday 14 June 2012.

The graduation ceremony of the Qwaqwa Campus will take place on 12 May 2012. Diplomas/certificates, degrees and doctorates will be awarded during the ceremony.
 

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