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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 announces its Sportsman and Sportswoman of the Year
2012-10-12

Here are, from the left: Raymond Rhule, Junior Sportsman of the year, Prof. Teuns Verschoor, Vice-Rector: Institutional Affairs, and Jamba Ulengo, Sportsman of the year. Izelle Lategan (Sportswoman of the year) and Tanya Brits (Junior Sportswoman of the year) was not present at the event.
Photo: Leonie Bolleurs
12 October 2012

The University of the Free State (UFS) honoured its top achievers at a glamorous gala dinner in the Centenary Complex on the Bloemfontein Campus on Thursday 11 October 2012. Jamba Ulengo and Izelle Lategan were named the Sportsman and Sportswoman of the year respectively.

The Junior Sportsman and Sportswoman for 2012 are Raymond Rhule and Tanya Brits.

This year the university’s sport stars were honoured in five categories. This includes:

- Sportsman and Sportswoman of the year (everyone that represented South Africa at a senior level, was eligible for the title). The winners each received a trophy and each sportsman and sportswomen in this category were honoured with a medal.
- Junior sportsman and sportswoman of the year. The winners each received a trophy.
- Sport stars that represented South Africa at senior and junior level. The achievers received certificates.
- Sport stars that represented the UFS in the national student teams. The sport stars also received certificates.
- Certificates were also awarded to the KovsieSport club sport stars.

The following students represented South Africa at senior level:

- Nardus Greyling. He represented the SA Athletics Team in the Confederation of African Athletics Senior Championship.
- Boy Soke. He represented the SA Athletics Team in the Confederation of African Cross-country Championship
- Izelle Lategan. She represented the Investec SA Women’s Hockey Team in the Champs Challenge in Dublin, Ireland, in Holland and Belgium and she played for the SA U/21 team against Spain and Belgium. She was also captain of the SA U/21-team during the senior interprovincial championships.
- JVA Steytler. He represented the SA Athletics Team in the Confederation of African Athletics Senior Championship.
- Johan Cronjé. He represented the SA Athletics Team as a 1 500 m finalist in the Confederation of African Athletics Senior Championship. He also participated in the Dessau International meeting in Germany and the Grand Prix meeting in Prague.
 

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