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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

Lots of inspiration at Autumn Graduation Ceremony
2013-04-18

 

Graduates celebrate the results of years of study at the graduation ceremony on the Bloemfontein Campus.
Photo: Hannes Pieterse
17 April 2013

Live streaming of ceremonies available from 16 April - 19 April 2013: http://www.ufs.ac.za/ufslivestreaming/

Joshua Johnson YouTube video

The university’s Autumn Graduation Ceremony got off to a vibrant start with energetic performances and inspiring messages for graduates.

Joshua Johnson, an American student who uses his talent for tap-dancing to fund his tertiary education, mesmerised the audience on the first of the four-day graduation ceremony with his story of hope and perseverance. The student from Penn State University travels five hours by bus to New York every weekend where he tap-dances on the subway trains to earn money for his tuition fees.

Delivering a keynote address, Joshua told graduates that, in order to achieve their goals, they have to understand and work diligently with the 24 hours they get to live daily. “Start with a bang and end with a bang,” he said, encouraging the audience in the nearly-packed Callie Human Centre to join him in a rhythmic tap-dancing beat.

“Don’t follow in the footsteps of someone else. Take the beat of life, but add your rhythm to it," his wise words resonating with the exhilarated graduates.

Joshua will be the guest speaker at the ceremonies on 16, 17 and 19 April 2013 and will deliver a dance item during each occasion.

Dr Khotso Mokhele, Chancellor of the University, echoed Joshua‘s message, telling graduates not to be discouraged by life’s difficulties.

“Take what you have learned over the last three or four years and use that knowledge to reach your goal,” he advised.

Prof Jonathan Jansen, Rector and Vice-Chancellor, encouraged them to continue to study. “To break the cycle of poverty, get an education, get a degree.” He told them that as graduates they are ten times more likely to get a job, with the odds rising as they continue their postgraduate studies.

Well-known radio host and Idols South Africa judge, Gareth Cliff, will be the guest speaker at two ceremonies on 18 April 2013. He will be joined by Vicus Visser, the South African YouTube singing sensation. Dubbed Bloemfontein’s Justin Bieber, Vicus and his brother Vincent will perform during these two ceremonies.

The programme for the respective ceremonies is:

Wednesday 17 April

09:30 Diplomas and certificates up to and including honours degrees in the Faculty of Education.
14:30 Diplomas and certificates up to and including honours degrees in the Faculties of Health Sciences, Law and Theology.

Thursday 18 April

09:30 Diplomas and certificates up to and including honours degrees in the Faculty of Natural and Agricultural Sciences: only Agricultural Sciences and Architecture.
14:30 Diplomas and certificates up to and including honours degrees in the Faculty of Natural and Agricultural Sciences: only Natural Sciences.

Friday 19 April

09:30 Diplomas and certificates up to and including honours degrees in the Faculty of Economic and Management Sciences: all diplomas and degrees in the Faculty, except BCom and BComHons.
14:30 Diplomas and certificates up to and including honours degrees in the Faculty of Economic and Management Sciences: only BCom and BComHons.

The Qwaqwa Campus’ graduation ceremony will take place on 8 June 2013. Diplomas/certificates up to and including doctorates will be awarded at this ceremony.

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