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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. 

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UFS prides itself on Pauline Gutter
2014-12-04

Pauline Gutter

Her work can be described as a visual attack of marks and colour, and the purposeful application of layering and interweaving of layers that gives the identity of continuous flux and ideological migration.  Her work highlights the ‘removal’ of the farming community from their land. A review of a recent exhibition described her themes as: “A struggle for survival prevails in the dangerous world that is projected to us in the paintings …”

Gutter is not just a top professional artist, but also a well-known brand. True to her roots, her work often mirrors a passion for the farming community. In 2013, she won the ABSA L’Atelier prize of R125 000, as well as a half year’s stay in the Cité Internationale des Arts in Paris, France. 

This art competition is South Africa’s most prestigious art competition and is held annually for artists between ages 21 and 35. This award not only ensures South Africa’s emerging artists of recognition, but also affords them the opportunity to develop their talents abroad.

The UFS is very proud of breeding this class of artist. According to Gutter, her lecturers allowed them space to work on their own identities. Her work has now moved far from simply being portraits and sculptures, it also makes an impact on those who see it.

As a student, Gutter was involved in many community projects at her residence. In 2003 she was one of the two managers of the Dithwele waste sculpture park competition, an initiative of SAB. She is a diverse artist who has worked on KYKNET productions as co-worker and assistant. Gutter also does freelance camera work.

Furthermore, Gutter was on the Mail & Guardian’s list of top 200 young South Africans, an annual list that has become the premier collection of the leaders of tomorrow – and in many cases, today. She also received the Helgaard Steyn prize and was a finalist in the Sasol New Signatures Art Competition.

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