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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

Dr Abdon Atangana cements his research globally by solving fractional calculus problem
2014-12-03

 

Dr Abdon Atangana

To publish 29 papers in respected international journals – and all of that in one year – is no mean feat. Postdoctoral researcher Abdon Atangana at the Institute for Groundwater Studies at the University of the Free State (UFS) reached this mark by October 2014, shortly before his 29th birthday.

His latest paper, ‘Modelling the Advancement of the Impurities and the Melted Oxygen concentration within the Scope of Fractional Calculus’, has been accepted for publication by the International Journal of Non-Linear Mechanics.

In previously-published research he solved a problem in the field of fractional calculus by introducing a fractional derivative called ‘Beta-derivative’ and its anti-derivative called ‘Atangana-Beta integral’, thereby cementing his research in this field.

Dr Atangana, originally from Cameroon, received his PhD in Geohydrology at the UFS in 2013. His research interests include:
• the theory of fractional calculus;
• modelling real world problems with fractional order derivatives;
• applications of fractional calculus;
• analytical methods for partial differential equations;
• analytical methods for ordinary differential equations;
• numerical methods for partial and ordinary differential equations; and
• iterative methods and uncertainties modelling.

Dr Atangana says that, “Applied mathematics can be regarded as the bridge between theory and practice. The use of mathematical tools for solving real world problems is as old as creation itself. As written in the book Genesis ‘And God saw the light, that it was good; and divided the light from the darkness’, the word division appears here as the well-known method of separation of variables, this method is usually employed to solve a class of linear partial differential equations”.

“A mathematical model is a depiction of a system using mathematical concepts and language. The procedure of developing a mathematical model is termed mathematical modelling. Mathematical models are used not only in natural sciences, but also in social sciences such as economics, psychology, sociology and political sciences. These models help to explain systems and to study the effects of different components, and to make predictions about behaviours.”

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