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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

Prof Barney Pityana to deliver the inaugural Bram Fischer Memorial Lecture
2013-04-24

 

Prof Barney Pityana
Photo: Supplied
24 April 2013

Well-known academic and human rights lawyer Prof Barney Pityana will deliver the inaugural Bram Fischer Memorial Lecture on Friday 26 April 2013,honouring the life and legacy of the anti-apartheid stalwart. Prof Pityana will be joined by Fischer’s daughters Ruth Rice and Ilse Wilson and his nephew Peter in the President CR Swart Auditorium on the Bloemfontein Campus.

Prof Pityana has an impressive track record of accomplishments:

He is the current Rector of the College of the Transfiguration in Grahamstown; one of the founding members of the South African Students' Organisation; an important figure in the Black Consciousness Movement with Steve Biko; and an exponent of Black theology.

Prof Pityana is the former Principal and Vice-Chancellor at the University of South Africa (UNISA) and also a former chairperson of the South African Human Rights Commission.He has served on the African Commission on Human and Peoples' Rights at the Organization of African Unity in 1997. Prof Pityana’s work in human rights has been widely recognised and in December 2002 he was awarded an Honourable Mention of the 2002 UNESCO Prize for Human Rights Education.

In April 2006, Prof Pityana received the Award of the Order of the Grand Counsellor of the Baobab: Silver from former President Thabo Mbeki.

Prof Pityana will meet with students from the Faculty of Law during the day of the lecture. At 12:00 the Institute for Reconciliation and Social Justice will host a critical conversation discussing Bram Fischer as a father and Afrikaner communist lawyer. The conversation will feature the perspective of his daughters. The Bram Fischer Memorial Lecture will commence at 18:30.

Programme:

1. Critical Conversation: Bram Fischer as a father and Afrikaner communist lawyer

Date: Friday 26 April 2013

Venue: Institute for Reconciliation and Social Justice

Time: 12:00 – 14:00

2. Inaugural Bram Fischer Memorial Lecture

Date: Friday 26 April 2013

Venue: President CR Swart Auditorium

Time: 18:30 – 20:00

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