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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

Autumn Graduation Ceremony a thrilling showcase
2013-04-19

 

Yolanda du Toit from the Department Student Academic Services is the proud mother of three daughters who all received qualifications at the Autumn Graduation. Maryke (left) received her certificate in Certified Financial Planning. She already has degrees in B.Com. Law and LLB. Amandi (centre) received her B.Ed and twin sister received her degree in consumer science.
Photo: Renè-Jean van der Berg
19 April 2013

Gareth Cliff video clip
Vicus and Vincent Visser video clip
Joshua Johnson video clip
Graduation YouTube video clip

Photo Gallery

The university’s Autumn Graduation Ceremony infused the Bloemfontein Campus with exhilaration last week.

Beaming with pride, graduates received 526 diplomas/certificates and 2 796 bachelor’s and honours degrees in total.

Prof Jonathan Jansen, Vice-Chancellor and Rector, lead each procession of graduates from the Red Square down the path to the Callie Human Centre while the beat of drums filled the air. “To break the cycle of poverty, get an education, get a degree,” Prof Jansen urged graduates during their respective ceremonies. He underscored the fact that, as graduates, they are ten times more likely to get a job, with the odds rising as they continue their postgraduate studies.

Dr Khotso Mohele, Chancellor of the university, advised graduates not to allow life’s obstacles to discourage them. “Take what you have learned over the last three or four years and use that knowledge to reach your goal,” he said. He also emphasised that graduates need to be able to take standpoint against issues.

Graduates’ ceremonies were made even more memorable by various local and international speakers and performers.

American student and tap-dancer, Joshua Johnson, inspired the audience with his story of hope and perseverance. As a student from Penn State University, he travels five hours by bus to New York every weekend where he dances on the subway train to earn money for his tuition fees. Joshua told graduates that, in order to achieve their goals, they have to make the best use of the 24 hours they get to live daily. “Don’t follow in the footsteps of someone else. Take the beat of life, but add your rhythm to it," his wise words resonated with the exhilarated graduates. The audience could not help but clap to the rhythmic beat of his tap-dancing performance.

Vicus Visser, dubbed Bloemfontein’s Justin Bieber was also on the list of performers. Vicus – a South African YouTube singing sensation – performed with his brother, Vincent, to the delight of the crowd.

Radio personality and Idols South Africa judge, Gareth Cliff, was also among the speakers who addressed the graduates during the week. “It’s a good time be alive, a good time to be a South African, a good time to be a qualified South African,” he said. “It’s a time in our country’s development that we require minds such as yours to propel us forward,” was part of his message. Gareth also stressed the freedom of speech in South Africa, especially the freedom of the media.

The Autumn Graduation Ceremony of 2013 was an immense success and filled the hearts of Kovsie graduates, students, staff, parents, family and friends with overwhelming pride.

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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