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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

Number of NRF-rated researchers increases in 2012
2012-10-29

29 October 2012

Three researchers at the University of the Free State received B-ratings for 2013 from the National Research Foundation (NRF). Prof. Johan Henning, Dean of Law, obtained the highest rating in his field of mercantile law in South Africa, a B1.

Prof. Jackie Naudé from Classical and Near Eastern Studies and Prof. Dingie Janse van Rensburg, Professor Extraordinary at the Centre for Health Systems Research and Development, also obtained B3-ratings. Prof. Naudé is the first B-rated researcher in the Faculty of Humanities.
Prof. Helene Strauss obtained the highest rating (Y1) for a UFS young scholar in the Humanities.
In total, the NRF rated researchers at the UFS grew from 95 in 2011 to 109 in 2012, a growth of almost 15 percent.
The NRF ratings committee consist of three reviewers from South Africa and three from abroad. A rating is valid for six years and researchers must reapply for rating before the end of that period.
For a B1-rating all reviewers must be firmly convinced that the applicant enjoys considerable international recognition for the high quality of the researcher’s recent output, with some indicating that the researcher is a leading international scholar in a field. For a B3-rating most of the reviewers must be convinced that the researcher enjoys international recognition for the high quality and impact of the research.
Prof. Jonathan Jansen, Vice-Chancellor and Rector, said in the UFS Research Report “The UFS now has among the highest number of NRF-rated scientists per size of the academic faculty and we have seen the productivity graph bear witness to a record growth in our funded research outputs; we have won our first-ever NRF/DST Research Chairs. In each of these achievements, the excellence we seek comes with and through the diversity we celebrate.”
More ratings and renewals were expected by the time of Bult went to print.. More than 35 researchers applied for ratings or renewal of ratings.
  • Colleagues who were admitted to the prestigious Academy of Science of South Africa (ASSAf) are Profs. Pumla Gobodo-Madikizela, Driekie Hay, Heidi Hudson, Lodewyk Kock, Odireleng Ntwaeaborwa, Hugh Patterton, Ian Phimister and Melanie Walker. ASSAf was established in 1996 with the mission of using science for the benefit of society. New members are elected after nomination by four existing members (at least two of whom do so from personal knowledge of the candidate). ASSAf has some 350 members and represents South Africa in the international community of science academies.
  • Dr Marieka Gryzenhout of Plant Sciences became a member of South African Young Academy of Science (SAYAS). SAYAS celebrated its first year in 2012. It was launched as a means to enable South Africa’s young scientists to fully participate in locally and internationally relevant research and development agendas. Prof. Aldo Stroebel, Director: Internationalisation, is also a member of SAYAS.

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