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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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Make the right choices and you will succeed, Prof Jansen advises learners
2014-05-30

“You can make a choice today that will end up with you being pregnant, having babies, being unemployed, sitting at home like some of our brothers and sisters, uncles and aunts. Or you can make a different decision – and that decision is about you working so hard that you earn entry into the University of the Free State, get your degree and become great, not only in South Africa, but in the world.”

This was the message from the UFS’s Vice-Chancellor and Rector, Prof Jonathan Jansen, who addressed prospective Kovsies during our Open Day on the Qwaqwa Campus on Saturday 24 May 2014. Prof Jansen advised all learners to always make the right decisions.

“The first right decision is to pass well. You must go for 60%, 70% and 80% passes. Set yourself a target and do not just strive to pass, but to pass well,” Prof Jansen told a packed Rolihlahla Mandela Multi-purpose Hall, with learners coming from as far as Ficksburg, Lindley and Koppies.

“The second thing that you need to do, is to believe in yourself. Do not believe people who tell you what you can or cannot do. Believe in what you can do,” said Prof Jansen.

“Thirdly, you have to get up and do things for yourself. You have to work hard, sleep less and study hard. Don't accept excuses. If you can do these three things, then the best place to study is the University of the Free State. Believe that the sky is the limit.”

“We learned a very valuable lesson here today,” said Tumelo Mofokeng from Nkarabeng Secondary School in Kestell.

The fun-filled programme included performances and messages of encouragement from current students who have been part of the unique Leadership for Change Programme. This programme equips first-year students with skills to reflect, dialogue and engage on issues of diversity and leadership.

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