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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

UFS presents unique rally
2006-05-11

On Friday 9 June 2006 the University of the Free State (UFS) will present the second Amazing Race Rally in Bloemfontein. 

The rally is presented in aid of children and babies with serious diseases in the Department of Pediatrics and Child Health in the UFS Faculty of Health Sciences.  These children are in need of intensive care, and suffer from cancer, heart disease, neurological diseases and conditions, endocrinological diseases or gastro-enterological conditions.

By raising the necessary funds, equipment can be acquired to meet the unique healthcare needs of these children and babies and it will also enable the UFS to maintain the high standards of education, training and research in this field.

Last year about 12 corporate teams from among others Vodacom, Medi-Clinic, Eskom, Mimosa Mall and Nedbank and four teams from the UFS competed in the rally.  The Medi-Clinic team was the winner.

This year the teams will again follow a specific route with various check points by car.  Here they will have to complete activities or solve clues before receiving their clue to the next checkpoint.  The teams will be travelling with cars branded with the logo of the company they represent.

Companies and institutions in Bloemfontein can enter in the rally by means of sponsoring a check point, entering a team of two persons or sponsoring some aspects of the day. 

The rally will give participants an opportunity to test their knowledge of the city, as well as their time management skills, communication skills, team work and even their relationships! 

The programme will start at 12:00 on the UFS Main Campus and the first team to complete this task is the winner of Bloemfontein’s second Amazing Rainbow Rally.

Extensive publicity of the event on OFM in the weeks running up to the day will ensure that participants are easily recognised and will create a measure of excitement.

Enquiries about the rally can be directed to Ms Adéle van Aswegen at (051) 401-3535 or Ms Ilse Olivier at (051) 401-2415.

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

 

 

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