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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

Double achievement for Prof. Paul Grobler
2012-04-25

 

Prof. Paul Grobler
Photo: Supplied
25 April 2012

Early this year, two journal editions appearing almost simultaneously in Europe featured cover photographs based on papers by Prof. Paul Grobler of the Department of Genetics and his collaborators.

These papers stem from collaborations with Prof. Gunther Hartl at the University of Kiel (Germany) and Dr Frank Zachos from the Natural History Museum in Vienna (Austria). Both papers cover aspects of the genetics of southern African antelope species.
 
The first paper appeared in the Journal of Zoological Systematics and Evolutionary Research” (from the Wiley-Blackwell group). This was titled “Genetic structure of the common impala (Aepyceros melampus melampus) in South Africa: phylogeography and implications for conservation”.
 
In this paper, the team analysed impala from various localities in South Africa to determine the relationship between distribution and genetic structure. The results suggest a clear relationship between genetic characteristics and habitat features that regulate gene flow.
 
The second appeared in the journal Mammalian Biology (from the Elsevier group), with the title “Genetic analysis of southern African gemsbok (Oryx gazella), reveals high variability, distinct lineages and strong divergence from the East African Oryx beisa”.
 
Here, the researchers looked at various aspects of the genetics and classification of gemsbok. Among the notable findings is that gemsbok populations on the game farms studied are less inbred than previously predicted.
 
Proffs. Grobler and Hartl initiated these projects on gemsbok and impala, with sub-sections of the research later completed as M.Sc. projects by students from both South Africa and Germany.
 
Prof. Grobler has been involved with aspects of the population genetics of various mammal species since the early 1990s, and continued with this line of research after joining the UFS in 2006. Current projects in this field include work on wildebeest, vervet monkeys and white rhinoceroses.

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