Latest News Archive

Please select Category, Year, and then Month to display items
Previous Archive
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

Winter Graduation spreads a glow of pride
2014-07-03

 

The 2014 Winter Graduation spread a glow of pride across our Bloemfontein Campus.

During the first session on Wednesday 2 July, the School of Open Learning conferred 612 diplomas and certificates.

Hazel Motsoeneng, District Director of Motheo in the Department of Education in the Free State, offered a powerful message to the graduates. “Teaching today is about reaching learners. The world of the future will not be changed because of the money you made, or the car you drove. The world of the future will be changed because you touched a child’s life.”

She reminded the graduates that “teaching is still a labour of love.”

Stafford Masie, the former general manager of Google South Africa, addressed 473 graduands on day two of the graduation ceremony.

“If you want to grow as an individual, realise that there are more people outside your immediate environment than inside that can help make you a better person. Take the opportunity and get exposed,” Masie said.

He added a few bits of advice:
• Be unique, don’t just follow others’ creations.
• The focus is no longer on me, me, me, but on we, we, we.
• You have the opportunity and the skills set. Don't just do things, do great things.
• True innovation happens when people are having fun.
• Work on stuff that really matters.

Prof Jonathan Jansen, Vice-Chancellor and Rector of the UFS, conveyed a special message to the graduates. “Getting a higher degree comes with high expectations of who you are and how you conduct yourself. A higher degree at Kovsies means that you are a better person, not only because you received a qualification, but also because of your human capacity to love and embrace.” 




We use cookies to make interactions with our websites and services easy and meaningful. To better understand how they are used, read more about the UFS cookie policy. By continuing to use this site you are giving us your consent to do this.

Accept