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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 visits Namibian schools
2012-06-27

The Rector and Vice-Chancellor of the University of the Free State, Prof. Jonathan Jansen, will leave for Namibia shortly to visit several secondary schools in the country and to speak to students.

The visit will be from Monday 25 June to Friday 29 June 2012.

A group of other staff members from the UFS, including Mr Rudi Buys, Dean: Student Affairs, Prof. Lucius Botes, Dean of the Faculty of the Humanities and Prof. Neil Heideman of the UFS’ Faculty of Natural and Agricultural Sciences, will also be part of the visit.

Prof. Jansen’s visit to schools in Walvis Bay, Swakopmund, Windhoek and Rehoboth is aimed at reaching out to potential UFS students in Namibia.
Prof. Jansen’s visits to schools since 2010 were very successful and he decided to expand his visits to schools with other ambassadors of the UFS to Namibia.

There are currently a large number of Namibian students at the UFS and the UFS also boasts a significant Namibian Kovsie alumni.

During the UFS’ five-day-visit to Namibia, the group will visit the Walvis Bay Private High School, Namib High School, the High Schools of Jan Mohr, Dr Lemmer, M&k Gertze, Windhoek Gimnasium, MH Greeff, Technical High School as well as Windhoek High School.

On Wednesday 27 June, Prof. Jansen will address ex-Kovsies at an alumni reunion in Windhoek.

On Thursday 28 June, Prof. Jansen will speak to approximately 600 learners at the Davin Trust sports event and on Friday 29 June he will address about 150 business people at a business breakfast in Windhoek.
 

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