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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 team helps a pupil to hear again
2014-01-24

 

“I was scared at first. I could not remember the sound of my own voice. Being Deaf -it was like living on another planet.”

These are the words of the 18-year-old Andile (Godfrey) Jantjies after he heard sounds and words for the first time in almost 12 months.

Andile, a former pupil at the Albert Moroka School in Thaba Nchu, was the recipient of a cochlear implantation under the Bloemfontein Cochlear Implant Programme (BCIP) run by the Department of Otorhinolaryngology at the University of the Free State.

Andile lost his hearing after contracting bacterial meningitis in June 2013. This resulted in bilateral profound deafness and despite his good academic record, his school refused to have him enrolled for 2014.

The cochlear implant was inserted in October 2013 and was switched on for the first time on Thursday 23 January 2014.

“I want to go back immediately,” Andile said excitedly after gradually becoming comfortable with hearing his own and other voices.

Dr Iain Butler from the Department of Otorhinolaryngology says cases like Andile’s are a medical emergencies due to the fact that meningitis causes the inner ear to become replaced by bone.

“This can occur after as little as four months after the infection and means that the insertion of a cochlear implant becomes impossible.

A cochlear implant system costs approximately R220 000.

It converts sounds/speech into electrical signals that directly stimulate the auditory nerve, bypassing the damaged inner ear. It is indicated for babies with congenital hearing loss, as well as acquired hearing loss in children or adults. It requires intensive rehabilitation in order to learn to hear again, and most recipients develop very good hearing. Andile now has the opportunity to hear again, continue his schooling and become an economically independent member of society, rather than being dependent on others.

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