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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

Collaboration between UFS and Mayo Clinic to revolutionise cancer treatment
2014-06-27



Attending the lecture were, from the left: Dr Chantel Swart, Prof Lodewyk Kock, Prof Debabrata Mukhopadhyay, Prof James du Preez; back: Prof Pieter van Wyk.
Dr Swart, Profs Kock and Du Preez are from the Department of Microbial, Biochemical and Food Biotechnology. Prof Mukhopadhyay is from the Mayo Clinic (US) and Prof Van Wyk is from the Centre for Microscopy at the UFS.
Photo: Supplied
The UFS made a discovery that may have enormous implications for the treatment of diseases in humans.

Since the discovery, the UFS joined forces with the Mayo Clinic in Rochester, US, in the fight against cancer.

In this collective effort, UFS researchers would be able to assist the Mayo team to:
• see how treatment in cancer patients is progressing,
• target treatments more effectively,
• reduce dosages in order to make treatment gentler on the patient,
• track the effectiveness of the chemotherapy drugs used, and
• gain an accurate view of how the cancer is being eliminated.

Prof Lodewyk Kock, Outstanding Professor at the Department of Microbial, Biochemical and Food Biotechnology, and his team incidentally created a technique to use argon gas particles for the first time on biological material to slice open cells to look inside.

The team that supported Prof Kock includes Dr Chantel Swart, Khumisho Dithebe (PhD student), Prof Hendrik Swart (Department of Physics) and Prof Pieter van Wyk (Centre for Microscopy).

Prof Debabrata Mukhopadhyay from the Mayo Clinic in Rochester, US, got to hear about this breakthrough at the UFS and a collaboration between the two institutions was established.

During a visit to the Bloemfontein Campus, Prof Mukhopadhyay explained novel techniques that make use of gold nanoparticles. These particles attach to chemotherapeutic drugs to selectively target cancer cells – dramatically decreasing the side effects to normal human cells.

For these new drugs (coupled to gold nanoparticles) to be accepted into clinical practice, visual and chemical proof is needed, though. This is where the technique developed by the UFS will play a vital role.

With the technique to look inside cells, the composition, location and metabolism of these drugs can be determined. This will aid in a proof of concept for the application of the nano-drugs. Furthermore, it will enable approval for use of these drugs in clinical trials and eventually could revolutionise cancer treatment as a whole.

For video lectures on the technique used, as well as its findings, follow these links:

1. http://vimeo.com/63643628 (Comic version for school kids)

2. http://vimeo.com/61521401 (Detailed version for fellow scientists)

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