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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

Brian Campbell one of selected few in Microsoft programme
2012-09-14

Brian Campbell
14 September 2012

A UFS student in Computer Science and Informatics, Brian Campbell of the Department of Computer Science and Informatics, has joined an elite group of South Africans, was invited to join the Microsoft Student Partner (MSP) programme in April 2012. Approximately 500 computer science and information technology students are chosen worldwide each year to form part of this elite student development programme. This year, 16 South African students were invited to join the MSP program.

These students will be Microsoft’s first non-industry partners to be trained in its newest and most revolutionary technologies that will be launched within the coming months. As part of their commitment to Microsoft, most of the students will train the lecturers and students of their respective universities, as well as Microsoft’s national industry partners and lecturers of universities and universities of technology that do not have MSPs on their campuses.

In May this year, Brian assisted employees from Microsoft to present a Windows 8 seminar at its offices in Cape Town.

Additional Microsoft related events have been arranged by Brian. These include a Windows Phone development day and an upcoming Windows 8 development seminar. Five students in the Department of Computer Science and Informatics were rewarded with Nokia Lumia cell phones after they published at least five applications on the Windows Phone Marketplace.
 

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