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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

Maryka Holtzhausen, Wayde van Niekerk and Driaan Bruwer win Kovsie Sports Star Awards
2014-10-29



Maryka Holtzhausen and Wayde van Niekerk
Photo: Hannes Naude
Our university honoured our top athletic achievers at the annual Kovsie Sports Star Awards that took place on 23 October 2014.

Maryka Holtzhausen and Wayde van Niekerk were named Sportswoman and Sportsman of the Year respectively.

Holtzhausen captained the Protea netball team that participated in a host of test series and championships. These included:
•    a test series against Trinidad & Tobago and England in October last year,
•    the Fast Five World Series in Auckland, New Zealand during November 2013, as well as
•    the Commonwealth Games in Glasgow this year.

Van Niekerk, in turn, set a new SA record in the 400 m of 44.38 at the Diamond League meeting in New York, USA during June 2014. As a member of the Protea team who participated in the Commonwealth Games in Glasgow earlier this year, he won the silver medal in the 400 m sprint. In August 2014, Van Niekerk clinched the silver medal in the 400 m at the CAA Senior African Athletics Championship in Morocco. He also formed part of the CAA African Athletics team who competed in the intercontinental cup meeting during September 2014. The team won gold in the 4x400 m relay at this event.

The Junior Sportsperson for 2014 is Driaan Bruwer. He was a member of the SA U/19 cricket team that won the Junior World Cup this year.

Our university’s sports stars were honoured in the following five categories:

•    Sportsman and Sportswoman of the Year. Everyone that represented South Africa at a senior level was eligible for the title. The winners each received a trophy and each sportsman and sportswomen in this category were honoured with a medal.
•    Junior Sportsperson of the Year. The winner received a trophy.
•    Sports stars that represented South Africa at senior and junior level. The achievers received certificates.
•    Sports stars that represented the UFS in the national student teams. These sports stars also received certificates.
•    Certificates were also awarded to the KovsieSport Club sports stars.

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