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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

Badminton: Kovsies rule the national students championships
2006-04-11

Kovsies' badminton players again, as in the past few years, rule the national students championships currently being presented in Pretoria by TUT and UP.

 The men, Chris Dednam, Roelof Dednam, Wiaan Viljoen and Raymond Ronne, had no other serious competition and were left to each other's rivalry.  Especially Roelof Dednam performed excellent by surprisingly going through to the finals in beating Viljoen in the singles, and with Elaine Lues also Chris Dednam and Liansa Coetzee in the mixed doubles.

 In the absence of Annari Viljoen (injured) and Sone Strauss (retired), the less experienced girls, Liansa Coetzee and Lizl Janse van Rensburg, had to uphold the Kovsie name.  They performed excellent by taking third and fourth positions.

In the team competition which now takes place,  Kovsies should make a clean sweep.

It is a pity that, through financial restraints, Kovsies players will not in October strengthen the SASSU team to the world student championships in China.

Results of the individual championships:

Men's singles:  winner - Chris Dednam (UFS), runner-up - Roelof Dednam (UFS), third - Wiaan Viljoen (UFS), fourth - Raymond Ronne (UFS);

Men's doubles:  winners - Chris Dednam / Roelof Dednam (UFS), runners-up- Wiaan Viljoen / Raymond Ronne (UFS);

Women's singles:  winner - Kerry-Lee Harrington (KZN), runner-up - Christina English (TUT), third - Liansa Coetzee (UFS), fourth - Liezl Janse van Rensburg (UFS);

Women's doubles:  winners - Kerry-Lee Harrington (KZN) / Christina English (TUT), runners-up - Liansa Coetzee (UFS) / Maret Visser (NW), quarter-finals - Elaine Lues / Anel Vorster (UFS), Liezl Janse van Rensburg (UFS) / Sarah Rice (Wits);

Mixed doubles:  winners - Andre van Schalkwyk / Christina English (TUT), runners-up - Roelof Dednam / Elaine Lues (UFS), third - Chris Dednam / Liansa Coetzee (UFS), fourth - Wiaan Viljoen / Liezl Janse van Rensburg (UFS).

 

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