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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

Champagne and cancer have more in common than you might think
2013-05-08

 

Photo: Supplied
08 May 2013

No, a glass of champagne will not cure cancer....

…But they have more in common than you might think.

Researchers from the Departments of Microbial Biochemical and Food Biotechnology, Physics and the Centre for Microscopy at the University of the Free State in South Africa were recently exploring the properties of yeast cells in wine and food to find out more of how yeast was able to manufacture the gas that caused bread to rise, champagne to fizz and traditional beer to foam. And the discovery they made is a breakthrough that may have enormous implications for the treatment of diseases in humans.

The team discovered that they could slice open cells with argon gas particles, and look inside. They were surprised to find a maze of tiny passages like gas chambers that allowed each cell to ‘breathe.’ It is this tiny set of ‘lungs’ that puts the bubbles in your bubbly and the bounce in your bread.

But it was the technique that the researchers used to open up the cells that caught the attention of the scientists at the Mayo Clinic (Tumor Angiogenesis and Vascular Biology Research Centre) in the US.

Using this technology, they ultimately aim to peer inside cells taken from a cancer patient to see how treatment was progressing. In this way they would be able to assist the Mayo team to target treatments more effectively, reduce dosages in order to make treatment gentler on the patient, and have an accurate view of how the cancer was being eliminated.

“Yes, we are working with the Mayo Clinic,” said Profes Lodewyk Kock from the Microbial, Biochemical and Food Biotechnology Department at the UFS.

“This technique we developed has enormous potential for cell research, whether it is for cancer treatment or any other investigation into the working of cells. Through nanotechnology, and our own invention called Auger-architectomics, we are able to see where no-one has been able to see before.”

The team of Prof Kock including Dr Chantel Swart, Kumisho Dithebe, Prof Hendrik Swart (Physics, UFS) and Prof Pieter van Wyk (Centre for Microscopy, UFS) unlocked the ‘missing link’ that explains the existence of bubbles inside yeasts, and incidentally have created a possible technique for tracking drug and chemotherapy treatment in human cells.

Their work has been published recently in FEMS Yeast Research, the leading international journal on yeast research. In addition, their discovery has been selected for display on the cover page of all 2013 issues of this journal.

One can most certainly raise a glass of champagne to celebrate that!

There are links for video lectures on the technique used and findings on the Internet at:

1. http://vimeo.com/63643628 (Comic version for school kids)

2. http://vimeo.com/61521401 (Detailed version for fellow scientists)

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