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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

Information day about crop production
2005-10-27

The Department of Soil, Crop en Climate Sciences at the University of the Free State (UFS) presented an information day about crop production at the Kenilworth experimental farm outside Bloemfontein. 

Various research projects that are currently conducted at the farm were introduced and explained to guests.  The day was attended by representatives from the Agricultural Research Council (ARC), Department of Agriculture, Omnia, Pannar, Senwes, Griekwaland Wes Koöp (GWK) and farmers from the commercial and developing agricultural sectors. 

The experimental farm is mainly used for the training of graduate and post graduate students and for contract research.  There are currently  2 Ph D's, 2 Master's studies and 1 research project for the Water Research Council (WRC) conducted at the farm. 

The facility is equipped with a centre pivot irrigation system, lysimeter complex for the insitu studying of plant-soil water relations and an automatic weather station.      

In his welcoming speech Prof Herman van Schalkwyk, Dean of the Faculty of Natural and Agricultural Sciences at the UFS said that in the past couple of years agricultural research in South Africa has deteriorated.   He said that the Faculty wants to commit itself to uplift and advance research by means of the experimental farm.  The Department of Soil, Crop en Climate Sciences aims to present regular sessions like this one at the experimental farm. 

 

Photo:  Stephen Collett

From left:
Prof Herman van Schalkwyk (Dean: Faculty of Natural and Agricultural Sciences at the UFS), Ms Keletso Seetseng (Master's student in Agriculture at the UFS), Dr Ezekiel Moraka (Vice-Rector:  Student Affairs at the UFS) and Dr Leon van Rensburg (from the UFS Department of Soil, Crop en Climate Sciences).  Me Seetseng works on two Canola field experiments and manages 216 plots of these experiments.

 

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