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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

Public Protector visited Faculty of Law
2005-09-23

On 21 September 2005 the Public Protector visited the Faculty of Law.  This event took place at 10:00 in the Senate Hall of the CR Swart Building, after which a light lunch was served for the delegates and staff of the Faculty.

The purpose of the visit was to spell out the roles, functions and powers of the Public Protector, to promote public awareness and transparency and to increase contact between the Faculty and the Public Protector.  Sufficient time was allowed to answer all the questions posed by various parties, and brochures were made available.

All law students and staff members of the Faculty were invited to the occasion.  The presentations also included information regarding career possibilities for students with the Public Protector’s office.  This organization is more than willing to involve students in community service projects and would keep in contact with the Faculty in this regard.

All the representatives of the Public Protector’s office who visited the Faculty are in the law profession:

The following persons made presentations:

Mr P Nthotso:  Independent Complaints Directorate
Ms L Mdalane: Directorate of Special Operations – Scorpions
Ms M Thetlhu: South African Human Rights Commission
Mr A Madiba:  Office of the Public Protector.

The persons mentioned above were accompanied by their supervisors, viz. Mr L Mashee (Head Public Awareness, Free State) and Ms SD Griessel (Provincial representative for the Public Protector, Free State).  A further two employees of the Public Protector attended as observers, viz. Mr T Kgabeginyane and Mr MR Matlesoane.

The Public Protector functions independently and reports directly to Parliament.

Staff and students found the visit very informative and valuable contacts were made in the process.

 



Back from left: Ms Michelle Havenga (President of the Faculty of Law's Juridical Society ), Ms Masego Thethu (South African Human Rights Commission), Ms  Lebo Mdalane (Directorate Special Projects of the Scorpions) and Mr  Pieter Nthotso (Independent Complaints Directorate).
Front from left: Mrs Soné Griessel (Provincial Representative of the Public Protector in the Free State) and Prof Carel van der M Fick (Head:  Department of Criminal Procedure and Philosophy of Law at the UFS Faculty of Law).

 

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