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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

Over 300 diplomas in Financial Planning Law awarded
2012-06-28

 

Adv. Wessel Oosthuizen, Director of the Centre for Financial Planning Law; Marilize Putter, top student in the Advanced Postgraduate Diploma in Financial Planning Law, Jenny White, top student in die Postgraduate Diploma in Financial Planning Law and Prof. Rita-Marie Jansen, Acting Dean: Faculty of Law at the UFS.
Photo: Stephen Collet
28 June 2012

The Centre for Financial Planning Law (CFPL) in the Faculty of Law at the University of the Free State (UFS) awarded 342 Postgraduate and Advanced Postgraduate Diplomas in Financial Planning at this year’s graduation ceremony. The ceremony was held at the Sandtion Conference Centre in Johannesburg on 19 June 2012.

Some of the distinguished guests who attended were Dr Khotso Mokhele, Chancellor of the UFS, Dr Derek Swemmer, Registrar of the UFS, Prof. Nicky Morgan, Vise-Rector: Operations at the UFS, Prof. Helena van Zyl, Director of the UFS’s Business School, Prof. Rita-Marie Jansen, Acting Dean of the Faculty of Law and Adv. Wessel Oosthuizen, Director of the CFPL. The Chief Executive Officer of the Financial Planning Institute of Southern Africa, Mr Godfrey Nti, and the Chairperson of the Board, Mr Solly Keetse, were also present at the graduation ceremony.

Marilize Putter was named as the top student in the Advanced Postgraduate Diploma in Financial Planning Law, with Jenny White the top student in die Postgraduate Diploma in Financial Planning Law.

The UFS remains the largest institution in this field. The UFS’s Centre for Financial Planning Law is also the only institution in South Africa that presents the Postgraduate Diploma in Financial Planning Law as a pure specialisation diploma.

Donors who made the event possible include:

  •  Craig Bentley of Alexander Forbes
  •  Dev Chetty of Liberty Life
  •  Henry van Deventer of Acsis
  •  Tessa Pappenfuss of Lexis Nexis
  •  Bertie Nel of Momentum

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