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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

Gendered violence and women’s citizenship in Africa
2014-05-23

 
Prof Takyiwaa Manuh

Prof Takyiwaa Manuh celebrated both Africa Day and her birthday with the UFS on 22 May 2014.

Being the guest speaker at the Africa Day Memorial Lecture, Prof Manuh discussed how gendered violence and the lack of women’s true citizenship in Africa still hinder the Pan-African ideal. She asked the question: if African issues get less worldwide attention, how much less attention do African women get?

“Africa Day offers us an opportunity to revisit the Pan-African ideal and aspiration for total national liberation, equality and self-worth,” Prof Manuh said.

“This ideal has envisaged full citizenship with the enjoyment of rights and resources for the people of Africa to live a dignified and fulfilling life. Yet, the conceptions of citizenship that have emerged in several African countries do not fully incorporate women and girls.”

The lecture explored the policing of women’s bodies and sexualities and how their enjoyment of rights is undermined – often under the pretext of culture. Often families, communities, states, religious bodies and culture work collaboratively to mold African women into the patriarchal image of disciplined and virtuous. The epidemic of violence against females negates their fundamental human rights and their claim to full citizenship and protection within their states.

The lecture also reviewed recent efforts including law reform, legislation and actions by activists. “The African Union and the UN need to confront these violations and suggest a robust agenda for more effective exercise of women’s citizenship rights and convergence towards the Pan-African ideal.”

Prof Manuh is currently Director: Social Development Policy Division of the United Nations Economic Commission for Africa in Addis Ababa, Ethiopia.

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