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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

Maestros from the world stage now lecture at the Odeion School of Music
2014-02-19

 
Prof Ruth Goveia

 
Danré Strydom

 
George Foster

The Odeion School of Music (OSM) at the University of the Free State (UFS) recently endorsed its commitment to excellence with the appointment of three exceptional performing artists and lecturers.

Prof Ruth Goveia (piano), Danré Strydom (clarinet and saxophone) and George Foster (brass instruments) all hold international qualifications. In addition, all of them have received tutelage from world-renowned mentors and performed across the globe. Their respective CVs are awe-inspiring – to say the least.

Prof Goveia has been appointed as an associate professor at our university. She obtained her doctorate in Music in Piano from the Jacobs School of Music at the Indiana University, USA, after completing her master’s degree at the University of Cincinnati. Prof Goveia has gained immeasurable experience while holding positions at several prestigious institutions, including the Albion College in Michigan and the Indiana University.

As a soloist, Prof Goveia’s performances are staggering. She has appeared in a number of recitals across America and even performed as a guest artist at the Kalamazoo College of Music. She took part in the Chamber Music Project of the New York-based Artur Balsam Foundation, and collaborated with clarinetist Randall Paul on a duo tour of Georgia and Alabama.

Danré Strydom has been appointed as a junior lecturer in clarinet and saxophone. She will also co-ordinate the woodwind programme at the OSM. Her training began in Windhoek, Namibia, and continued on to the prestigious Jacobs School of Music in Indiana, USA. From there she joined the Ghent Conservatoire in Belgium, reading for two master’s degrees – completing both cum laude. Strydom has performed with several renowned orchestras ranging from the Vlaams Brabant Symphony (Belgium) to the Sinfonietta Breda (Netherlands).

George Foster is filling the position of a junior lecturer in brass instruments. He completed his BMus degree at the South African College of Music at the University of Cape Town where he received the Anton Rupert Merit prize. As former Fulbright scholar, Foster read for a master’s degree in Music at the University of North Texas. During his study period in the USA he was a member of the University of North Texas Wind Band, the Symphony Orchestra and the Chamber Orchestra. Here, he gained invaluable experience as a conductor as well.

Strydom and Foster are performing their duties at the Free State Symphony Orchestra (FSSO), as well as the OSM. They will both play an integral role as musicians and collaborators within the activities and initiatives of the FSSO, and serve as coaches and instructors for the Free State Youth Orchestra.

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