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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

Dreams come true
2014-06-11


Lizelke Klindt – part of the Kovsie family

 

“To be a Kovsie is awesome.” This is how Lizelke Klindt starts the conversation.

Who is Lizelke?

She is one of our top emerging academics. Expanding on her BSc in Astrophysics, she obtained an honours degree in Physics this year – cum laude – earning her the Dean’s and Senate Medal.

At this year’s Kovsie Open Day on the Bloemfontein Campus, Lizelke beamed across the stage at prospective students and their parents – embodying true Kovsie pride.  

Her academic journey has just begun, though. Lizelke is currently doing her MSc in Astrophysics. Her thesis focuses on the ‘Multi-wavelength Analysis of Unidentified Active Galactic Nuclei in the Fermi 2LAC Catalogue’.

“This will allow me to travel around to collect my own data and will broaden my skill set in order to reduce the various data,” she says.

Her achievements have gone hand in hand with hard work and grapping every opportunity the university has to offer, she admits. She also has a lot of praise for our university for offering research opportunities to graduates in their respective fields.  

“My studies have allowed me to travel a lot and to meet people from all over the world. I have made friends in Germany, Poland, Australia and other European countries.

“And the best part of it all is I get to fly a lot. I absolute love it. And if there was such a thing as a second life, I would definitely be a pilot or hopefully an astronaut. It’s a good feeling to be part of the Kovsie family.”

Lizelke plans to continue onto her PhD in the coming years. And then? She fervently wishes to get a post-doctoral position at the very same university that opened a world to her that she loves passionately. A world she has dreamt of since childhood.

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