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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

Students selected for prestigious Stanford Sophomore College
2012-04-04

 

From the left are: Elri Marais, Palesa Mafisa, Prof. Jonathan Jansen, Vice-Chancellor and Rector of the UFS, Goodwill Shelile and Foster Lubbe. Gabriela Schroder and Saeed Abdullah were absent when the photo was taken.
Photo: Hannes Pieterse
4 April 2012


As part of the University of the Free State’s (UFS) comprehensive suite of student leadership development programmes, a strategic partnership with Stanford University, USA has been forged.

Starting in 2012, selected cohorts of high-potential second-year students will annually participate in the Stanford Sophomore College Programme. The UFS and Oxford University in the UK are the only non-Stanford participants in this strategic and unique opportunity.

Following a highly competitive selection process based on both written and oral assessment, managed by the UFS Centre for Teaching and Learning and the Office of the Vice-Chancellor, the first group of six students was recently selected and will visit Stanford University from 1 – 14 September 2012.

The exclusive and high profile Sophomore College has been offered at the prestigious Stanford University on the West Coast of the US for a number of years. It takes the form of a residential summer programme for second-year students who participate and engage in intense academic exploration with peers and professors on a variety of innovative, multidisciplinary topics.

Depending on the course selected, students participate in a variety of intellectual and academic programmes, do research, work in labs, engage in readings of texts and develop presentation skills.

Some courses are held in part or entirely off campus. Advisory sessions to assist students in their preparation, academic orientation and intellectual development will be conducted prior to their departure to add value to the experience at Stanford.

The students will benefit from the programme in many ways, among others the intense academic exploration of topics with an eminent international scholar, immersion in and exploration of a field of interest, the opportunity to hone critical habits of mind, train to become a more engaged and entrepreneurial learners and collaborate and form relationships with friends and peers.
 

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