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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

Bloemfontein’s Visser brothers to wow hometown fans
2013-03-27

 

From left: Vincent Visser, Gareth Cliff and Vicus Visser
Photo: Supplied
27 March 2013

South Africa’s YouTube singing sensation, Vicus Visser, will wow Bloemfonteiners on 18 April 2013 with a musical performance at the University of the Free State.

He and his talented brother Vincent will perform at the Wynand Mouton Theatre giving their hometown fans a taste of their recent performances in the United States. Vicus, who has been dubbed Bloemfontein’s Justin Bieber, performed overseas for the first time in February this year when he and his brother performed at events for Black History Month in Washington DC and New York. One of their performances was at the Kennedy Centre in Washington DC where they paid tribute to Nelson Mandela and Martin Luther King.

Vicus rose to fame in 2010 when a music clip of him as a ten year old boy, singing “These Arms” by All for One, appeared on the internet. After a massive seven-year search on social media channels by local and international record companies, he was tracked down to Heidedal in Bloemfontein. Vicus and Vincent moved to Johannesburg in 2012 where they were managed and mentored by Gareth Cliff, top radio presenter and judge on Idols South Africa.

Gareth will join the Visser brothers in Bloemfontein on 18 April and will be master of ceremonies at the concert titled Singing the Dream for South Africa - The Kennedy Centre Performance. As with their performance in the United States, the brothers will treat the hometown crowd to a selection of songs in English, Zulu, Sesotho and Afrikaans.

Vicus, Vincent and Gareth will also make special appearances at the two graduation ceremonies hosted at 09:30 and 14:30 on 18 April 2013. Gareth will be guest speaker and the two brothers will give a short performance. They will also have a meet and greet session with students at the Thakaneng Bridge at 11:45.

Tickets for the Singing the Dream for South Africa - The Kennedy Centre Performance cost R 20 and are available at Room 5, Thakaneng Bridge. The show starts at 19:30.

For more information contact Nicoleen Snyman at snymann@ufs.ac.za or 051 401 9598 / 051 401 9102.


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