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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

‘Celebrating the music of our times’
2013-07-15



Esemble Trans.Z
15 July 2013

Programme (pdf)

The Odeion School of Music (OSM) is hosting New Music Week from 17 to 20 July 2013, celebrating the music of our times. Ensembles such as the OSM Camerata, the Odeion String Quartet, Esemble Trans.Z and the New Music Ensemble from NWU are scheduled to perform. They will perform during two gala concerts on 19 and 20 July 2013.

Workshops and lectures will also be presented during the week. One of these, Sound in Motion, will be presented by Esemble Trans.Z. This music improvisation workshop is presented in the form of a soundtrack for a silent film. The objective is an attempt to educate students about the technical and musical concepts related to New Music by means of free composition and mapped improvisation. Each member of Ensemble Trans.Z will be assigned to a group ofstudents according to their instrument of choice. Given a certain amount of time to learn and practice the techniques taught, students will have the opportunity to create a soundtrack for a short silent film.

See attached programme for details about workshops and lectures to be presented.

The following admission fee will be charged for the gala concerts:

R110 – Adults

R70 – Pensioners, students and learners.

Tickets are available at Computicket or at the door.

Enquries: Ninette Pretorius at PretoriusN@ufs.ac.za

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