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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

Ensuring justice does not get lost in translation
2014-02-06


Court interpreters who have successfully completed a legal interpreting learnership.
Photo: Stephen Collett

The University of the Free State (UFS) is a taking a leading role in changing the face and character of the South African court system, infusing it with qualified professionals.

The university’s Unit for Language Facilitation and Empowerment partnered with the Department of Justice and Constitutional Development as well as the Safety and Security Sector Education and Training Authority (SASSETA). This union lead to 63 court interpreters successfully completing a legal interpreting learnership.

These newly-qualified interpreters will from now on render specialised interpreting services in courts across our country.

Addressing the audience at the diploma ceremony held on the Bloemfontein Campus, Dr Derek Swemmer, Registrar of the UFS, said translators have an important role to play. ”Translation is a gift to those who do not understand the language that a person is speaking,” he said.

In her speech, Nonkululeko Sindane, Director-General in the Department of Justice and Constitutional Development, said the qualification will improve the professional status of court interpreting. She added that the learnership is based on a broader government policy on skills development. She mentioned that eight of those who received qualifications have been permanently employed by the department.

Praising the university for its role, Abbey Witbooi, Chairperson of the SASSETA board, said the diploma will allow qualified learners to contribute to social and economic transformation. This will ensure the protection of human rights in the court setting. In addition, it also provides equal access to a fair trial in terms of effective communication. “The fact that this is a first in the republic, speaks volumes for the extent of the commitment of collective leadership to realise the transformation agenda,” he said.


 

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