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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

Mr Naka Drotské is Kovsie Alumnus of the Year
2006-03-03

Alumni of the University of the Free State (UFS) appointed Mr Naka Drotské as Kovsie Alumnus of the Year 2005.

The award is made to Mr Drotské for the professional way in which he led the Cheetah Rugby Team last year.  This played a determining role in the team’s 2005 Currie Cup victory.

The Cum Laude Award, made from time to time to any alumnus for outstanding service or achievement at local, national or international level in his/her specific career domain, will be awarded to Mr Harold Verster (president of the Free State Rugby Union). 

Mr Verster receives the award for the role he played in the inclusion of the Vodacom Cheetahs as Super 14 team, as well as for his leadership that contributed to the success of the Cheetah Rugby Team in 2005.

 Prof Johan Henning, Dean: Faculty of Law at the UFS, receives the Kovsie Alumni National Management Award for Exceptional Service.  This award is made from time to time to an individual who has rendered exceptional service to the UFS. 

 Prof Henning receives this award for his role in the expansion and development of the Faculty of Law as academic, centre head, department head and, especially, as dean.

 The award ceremony will take place on Friday 10 March 2006 during a Gala Award Banquet in the Reitz Hall of the UFS Centenary Complex on the Main Campus in Bloemfontein.  

 All alumni of the UFS are welcome to attend the function.  The guest artist is Matthys Roets and the entrance fee of R80 per person includes a three course meal.  

Those who are interested can contact Ms Jeannette Boshoff-Jansen at (051) 401-3594 or alumni@mail.uovs.ac.za.

Media release
Issued by: Lacea Loader
Media Representative
Tel:   (051) 401-2584
Cell:  083 645 2454
E-mail:  loaderl.stg@mail.uovs.ac.za
3 March 2006

 

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