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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. 

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Good practice discussed during workshop of the ACU Benchmarking Programme
2012-09-10

 From the left are: Prof. John Brennan, assessor from the Open University in the UK; Prof. Driekie Hay, Vice-Rector: Academic, UFS; Mr Cliff Wragg, ACU Benchmarking Programme Manager; Prof. Ellen Hazelkorn, assessor from Dublin Institute of Technology in Ireland; and Mr Mike Gallagher, Executive Director of Go8 in Australia.
Photo: Johan Roux
10 September 2012

The ACU University Management Benchmarking Programme presented a workshop on the Bloemfontein Campus of the University of the Free State (UFS) from 27 to 29 August 2012.

The programme offers a unique and cost-effective opportunity for participating universities to compare their key management processes with those in a range of other universities. This helps to identify areas for change and assists in setting targets for improvement and identifying techniques for managing change. The outcomes of the programme provide models of good practice. It creates the opportunity for networking and a workshop, guided by internationally acknowledged subject experts. This year representatives from universities in among others Australia, the South Pacific, Canada, the United Kingdom (UK) and South Africa attended the workshop. The topics discussed were financial management, managing league tables and ranking and managing graduate outcomes.
 

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