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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

When entrepreneurship meets industrial innovation
2014-12-13

Johan Eksteen (Photo: Supplied)

Internationally acclaimed Argicon Pelleting is a worldwide supplier of pelleting machinery and equipment as well as agri-processing factories. The company was established in 1993 by André and Johan Eksteen, UFS 2004 MBA graduate. After taking over sole ownership, the company grew from a one-man business to an internationally respected specialist in the design and manufacturing of pelleting solutions for the agricultural industry.

A common practice in industrial procedures, pelleting involves processing material into small dry pellets. This is used globally by manufacturers of animal feed or recycling facilities that specialise in processing materials for reuse. This process, however, can only be successfully accomplished with specialised equipment, namely a pelletizer. With fifteen years’ experience in agriculture, and international exposure in countries such as Uganda, Australia, Singapore and New Caledonia, this was not a tall order for Johan.

Agricon focuses on consistently developing innovative ways to add value to its offering. The business has successfully installed pelleting equipment for a range of products, including tobacco dust, rooibos tea, human sludge waste, organic fertilizers and vermi-compost. In addition to the manufacturing of machines and equipment, the company also provides training and on-site installation for clients, as well as support following a sale or the provision of spare parts. The company also provides advice on new product developments and business opportunities for clients within the sector.

Apart from doubling its sales between 2013 and 2014, the company gained great recognition within the industry. Johan was awarded the University of the Free State Business School’s Entrepreneur award in 2013 and he is the first-prize winner of the ILO Free State EnterPRIZE Job Creation Challenge for 2014. He is currently one of 15 finalists countrywide in the Entrepreneur of the Year competition sponsored by Business Partners and Sanlam. Johan is the mentor and stand-in manager for Almenta, a skills development company (winner of the ILO Best Social Entrepreneur for Skills Development award) and Equus Groom School (winner of the ILO Social Entrepreneur in Youth Development award).

Johan was also announced as the winner of the SA entrepreneur of the year for small businesses.

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