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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. 

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New Engineering Graphics Education classrooms
2014-02-19

 From the left are: Nixon Teis, lecturer; Johan Coetzee, discipline coordinator; Prof Okkie Combrinck, lecturer; Annamarie Otto, lecturer; Prof Sechaba Mahlomaholo, Head: School MNST; Albert Kemp, lecturer and Izak Scott, student assistant.

New Engineering Graphics Education classrooms enrich, empower and enhance education

This year, Technology Education at the university will embark on a new endeavour. The development of new Engineering Graphics Education classrooms and a Technology laboratory will help shape excellence in the work of future educational technology students. These classrooms will be equipped with the latest educational and technological equipment to meet the needs of current and future students.

The new expansion will form part of the current Mathematics, Natural Sciences and Technology (MNST) Education Building, situated across the road from the Winkie Direko Education Building. Technology education embarks on a journey to enrich, empower and enhance education students. It aims to ensure that students will not only evolve in their teaching profession, but also establish a level of excellence that will drive their generation to become Technology educational leaders in their community. The educational laboratories are set for completion during middle September 2014.

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