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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

Mandela Day Vryfees concert aims to impress
2014-07-15

This year we celebrate Mandela Day with musical flair at the Vryfees. Well-known artists will give freely of their time and talent as part of their 67 minutes to help raise funds for the University of the Free State’s (UFS) No Student Hungry programme (NSH).

The UFS NSH Mandela Day Tribute Concert boasts artists such as Mathys Roets, Navi Redd, Corneil Muller, 3 x A Lady, Jacobus Silver and the 2014 Stage Door winners, the Akasia Ser Group. Performances ranging from the warm acoustic guitar and vocals of Mathys Roets, to the energetic a cappella medley of Navi Redd, promise to captivate and entertain the audience.

Angelo Mockie and Tonderai Chiyindiko, renowned for their excellent directing in numerous productions, are proud supporters of the NSH programme and hereby invite you to celebrate one of our country's most inspiring icons while helping us help our students. All of the concert proceeds will be donated to the NSH programme.

The NSH programme was initiated in 2011 by Prof Jonathan Jansen, Vice-Chancellor and Rector of the University of the Free State, and Rudi Buys, Dean of Student Affairs. The bursary is awarded on the basis of financial need, good academic performance, active participation in student life programmes and a commitment to serving the community. 
 
Buy your tickets at Computicket or at the Vryfees ticket office on the Bloemfontein Campus.

UFS NSH Mandela Day Tribute Concert
Date: 19 July 2014
Venue: Odeion, Bloemfontein Campus
Time: 15:00
Cost: R110

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