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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

Colloquium focuses on rural education
2012-10-10

Some of the international delegates during the second annual colloquium on rural education recently held at the Qwaqwa Campus.
10 October 2012

 The second edition of the Sustainable Rural Learning Ecologies (SuRLEc) Colloquium was held at the University of the Free State's Qwaqwa Campus this week. This three-day international event provided the Faculty of Education's postgraduate students with a platform to present their research and to learn from experienced researchers from all over the world.

In his opening address, the Faculty's Programme Head, Dr Dipane Hlalele, challenged all delegates to translate their research into achievable goals to address all the challenges facing rural education.

"Excellence in teaching and learning in a rural context remains a challenge for all sectors and levels of the education endeavour," Dr Hlalele said.

"Urban and metropolitan schools, colleges and universities may unintentionally structure their learning programmes in such a manner that they neglect rural attributes. This results in the marginalising of learners and students from rural environments. To complete the loop, these institutions are more likely to fail in preparing graduates for decisive contributions to sustainable rural learning ecologies," Dr Hlalele added.

The colloquium was officially opened by the Vice-Rector: External Relations, Dr Choice Makhetha, who highlighted the fact that the UFS was already doing its bit in levelling the learning playfields in higher education.

"We are aware that many of our students who come from disadvantaged backgrounds find it hard to cope at university. As a result, we are not waiting for them to come through to us. We are already in partnership with a number of schools where we help learners to improve their results," Dr Makhetha said.

The crucial role played by rural teachers was celebrated during a gala dinner to honour and acknowledge their efforts despite a myriad of daily challenges.

Ms Jabulile Mabaso (The Mills Primary Farm School) was honoured for 'Excellence in multi-grade teaching in Foundation and Intermediate phases'. Ms Rekha Mathew (Sibonakaliso Primary Farm School) and Mr Andries Motsoere (Tshebedisano Primary Farm School) were awarded for 'Excellence in managing multi-grade curriculum'.

The 2012 SuRLEc Honorary Award went to Ms Motshedisi Damane for her valuable contribution to the development of rural education in the Thabo Mofutsanyana Education District. Last year's recipient was the Dean of the Faculty of Education, Professor Dennis Francis.

Delegates and keynote speakers came from Thailand, Malaysia, the Unites States of America as well as the SADC countries of Botswana, Zimbabwe and Lesotho. South Africa was represented by the Universities of the North-West, Limpopo, KwaZulu-Natal and CUT, amongst others.

 

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