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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

Kovsies well represented in Cheetah rugby team
2006-10-10

Champions support champions.  Sport stars from the University of the Free State (UFS) today pledged their support to the Cheetah team with their participation this weekend in the Currie Cup final.  From the left are:  Boy Soke (SA Cross Country Champion), Nicolaas le Roux (captain of the Shimla rugby team), prof Frederick Fourie (Rector and  Vice-Chancellor), Ben Rheeder (Shimla hooker) and Charlene Hertzog (Captain of the Protea team and the UFS first netball team).

Kovsies well represented in Cheetah rugby team

Altogether 10 current and former Kovsies will most likely be included in the Cheetah team of 22 players that will compete for a place in the team that will play against the Blue Bulls on Vodacom Park in Bloemfontein in the final game of the Currie Cup.

“The University of the Free State (UFS) is proud of its rugby players and sees this milestone as another example of our commitment to maintaining quality sports performances,” said Prof Frederick Fourie, Rector and Vice-Chancellor of the UFS.

Prof Fourie said the UFS will stand solidly behind the Cheetahs this weekend so that the Currie Cup can stay in the Free State.

“It is not every day that we can boast with such a high representation in a provincial team.  Each of these players has proven himself to be a true sportsman and some of them are also Springbok rugby players.  This makes the honour even greater for the UFS,” said Prof Fourie.

The current and former Kovsies are Ollie le Roux (captain and loose head prop), Wian du Preez (loose head prop), Richardt Strauss (hooker), Jannie du Plessis (tight  head prop), Noël Oelschig (scrumhalf), Michael Claassens (scrumhalf), Meyer Bosman (flyhalf), JW Jonker (center, back line), Philip Burger (flyhalf/back) and Jaco du Toit (hooker). 
“Last year we honored two former Kovsies for their contribution to the success of the Cheetah team.  Mr Naka Drotské, team manager of the Cheetahs, was appointed as  Kovsie of the Year and Mr Harold Verster, President of the Free State Rugby Union, received the Cum Laude Award,” said Prof Fourie.

Media release
Issued by: Lacea Loader
Media Representative
Tel:   (051) 401-2584
Cell:  083 645 2454
E-mail:  loaderl.stg@mail.uovs.ac.za
12 October 2006

 

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