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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. 

Governor Lesetja Kganyago, at a public lecture he presented at the UFS.
Governor Lesetja Kganyago, at a public lecture he presented at the UFS.
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Governor Lesetja Kganyago
Governor Lesetja Kganyago
Prof Phillippe Burger, Pro-Vice-Chancellor and Vice-Dean of Faculty of Economic and Management Sciences
Prof Phillippe Burger, Pro-Vice-Chancellor and Vice-Dean of Faculty of Economic and Management Sciences
Governor Lesetja Kganyago and Dr Engela van Staden, Vice-Rector:Academic
Governor Lesetja Kganyago and Dr Engela van Staden, Vice-Rector:Academic
From left;Prof Hendri Kroukamp, Dean of the Faculty of Economic and Management Sciences, Governor Lesetja Kganyago, and Prof Puleng LenkaBula, Vice-Rector: Institutional Change, Student Affairs
From left;Prof Hendri Kroukamp, Dean of the Faculty of Economic and Management Sciences, Governor Lesetja Kganyago, and Prof Puleng LenkaBula, Vice-Rector: Institutional Change, Student Affairs

News Archive

Young researcher from UFS on SAYAS executive committee
2014-10-28



Dr Aliza le Roux
Photo: Sonia Small
Dr Aliza le Roux from the Department of Zoology and Entomology on the UFS’s Qwaqwa Campus is one of ten young scientists who was recently inaugurated as a new member of the South African Young Academy of Science (SAYAS). Not only was she inducted into the society this past October, but she was also elected to serve on the executive committee for SAYAS.

Dr Le Roux’s research focus is on cognitive ecology, behavioural ecology and zoology. She has expressed her excitement about the new position, and is already developing new ideas with her new colleagues on drawing more young people into the South African scientific community.

This position provides a regional and international platform to raise the profile of science in general, and Le Roux hopes to be active in SAYAS’s new mentorship collaboration with the New York Academy of Sciences, and to introduce new methods of scientific outreach using social media. Inspired by the students on the Qwaqwa Campus, Dr Le Roux hopes to specifically target relatively isolated rural campuses in SAYAS’s activities.

Prof Corli Witthuhn, Vice-Rector: Research at the UFS, said, “Aliza le Roux is an outstanding young scientist on our Qwaqwa Campus. I am very excited about the young researchers on our Qwaqwa Campus with Aliza as one of the leaders, and I am looking forward to what else they can achieve in the next five years.”

SAYAS was launched in October 2011 with 20 founding members as a mechanism to propel South Africa’s young scientists to fully participate in relevant local and international research and development agendas. It provides a national platform where leading young scholars from all disciplines in the country can interact, and also access international networking and career development opportunities.

SAYAS contributes primarily to the achievement of the national strategic priority of strengthening the skills and human-resource base of the country. Its particular niche is to focus on strengthening high-level skills among young scientists and the promotion of scientific excellence.


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