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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

University is proud of its women in science
2013-08-17

 

Dr Marieka Gryzenhout
Photo: Sonia Small
19 August 2013

Two lecturers in the Department of Plant Sciences received national recognition for their research at the Women in Science Award 2013 function of the Department of Science and Technology (DST) on Friday 16 August 2013. Dr Marieka Gryzenhout received the award as Young Women Scientist and Prof Maryke Labuschagne was first runner-up in the category Distinguished Women Researcher, both in Life Sciences.

The third award-winner was Rose Lekhooa in the Doctoral Fellowship category. She is studying toward a PhD in Pharmacology and said the fellowship will enable her to attend seminars and workshops internationally.

Friday’s award was the second, in as many months, for Dr Gryzenhout. She received the TW Kambule NRF-NSTF Award as emerging researcher in June 2013. She was the recipient of the International Union of Forestry Research Organizations’ Outstanding Doctoral Research award in 2010.

Prof Jonathan Jansen, Vice-Chancellor and Rector of the UFS, said, “Dr Gryzenhout represents one of a growing group of very impressive young scientists at the university who are emerging as leading international scholars in their fields.

“Her international leadership in mycology research has already made significant impacts on the African continent and beyond. The university will continue to invest in these young academic stars through its Prestige Scholars Programme where scholars like Dr Gryzenhout are increasingly well-placed to be the next generation of scientific leaders in the world.”

“It as a great privilege to receive the award, especially as second one in this year,” Dr Gryzenhout said. She established a research programme, Mycotoxigenic and Phytopathogenic Fungi, at the UFS. She is president of the African Mycological Association and general secretary of the International Society for Fungal Conservation. She is also a member of the Nomenclature Committee for Fungi – a permanent committee of the International Botanical Congress.

Prof Labuschagne received the African Union Kwame Nkrumah award for life and earth sciences in 2011, and the National Agriculturalist of the Year Award and the National Science and Technology Forum (NSTF) Award for research-capacity development over the last five to ten years, both in 2008.

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