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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. 

Governor Lesetja Kganyago, at a public lecture he presented at the UFS.
Governor Lesetja Kganyago, at a public lecture he presented at the UFS.
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Governor Lesetja Kganyago
Governor Lesetja Kganyago
Prof Phillippe Burger, Pro-Vice-Chancellor and Vice-Dean of Faculty of Economic and Management Sciences
Prof Phillippe Burger, Pro-Vice-Chancellor and Vice-Dean of Faculty of Economic and Management Sciences
Governor Lesetja Kganyago and Dr Engela van Staden, Vice-Rector:Academic
Governor Lesetja Kganyago and Dr Engela van Staden, Vice-Rector:Academic
From left;Prof Hendri Kroukamp, Dean of the Faculty of Economic and Management Sciences, Governor Lesetja Kganyago, and Prof Puleng LenkaBula, Vice-Rector: Institutional Change, Student Affairs
From left;Prof Hendri Kroukamp, Dean of the Faculty of Economic and Management Sciences, Governor Lesetja Kganyago, and Prof Puleng LenkaBula, Vice-Rector: Institutional Change, Student Affairs

News Archive

Kovsie student translates and interprets between English and Mandarin
2012-11-14

Chen-Shu
14 November 2012

When television channel e.tv recently interviewed successful Chinese businesspersons in South Africa and Tanzania, they turned to Kovsie student Chen-Shu Fang to translate from English into Mandarin. Chen-Shu, who has completed a BA Honours in Linguistics, is the first student in the Department of Linguistics and Language Practice translating and interpreting between English and Mandarin.

Born in Taiwan, Chen-Shu started her high-school education in South Africa in 1997 and matriculated in 2001. She completed a Bachelor’s degree in Taiwan, but returned to South Africa in 2011, enrolling for studies in the Department of Linguistics and Language Practice. After completing her honours degree in June 2012, Chen-Shu decided to also enrol for the practical honours module in Translation Studies in preparation of her Master’s degree next year.

“I have some background knowledge in linguistics, but during my studies at the UFS, I discovered an interest in interpreting and translation. Therefore, I changed my main focus from Linguistics to Language Practice,”says Chen-Shu.

This year, Chen-Shu also started offering translation and interpretation services. Her first interpreting brief from the Unit for Language Facilitation and Empowerment (ELFE) at the UFS was for Dairy Belle where she had to interpret for a technician from China. She furthermore assists in the translation of the website of Hsiang Chun Orchid Garden, a Bloemfontein-based company (www.hcorchids.co.za).

“I have a great interest in translation, and would also like to offer my language skills and knowledge gained in this course to the Mandarin-speaking community in Bloemfontein. This degree has given me the opportunity to practise and enhance the necessary language practice skills. ”

On assessing Chen-Shu’s translations, an external marker for Mandarin from Rhodes University commented as follows on our department’s course: “I am impressed by your generous and relaxed attitude towards such a diverse group of students, so that they can actually follow a translation course and develop translation skills within their own, unique context”.

 

 


 

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