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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. 

News Archive

But do you forgive yourself, Eugene de Kock? asks Candice Mama
2015-03-16

From the left are: Prof Pumla Gobodo-Madikizela, Candice Mama and Prof André Keet, Director of the UFS Institute for Reconciliation and Social Justice.
Photo: O'Ryan Heideman

 

Candice Mama: Audio

Candice Mama and her family met with her father’s assassin. Eugene de Kock. Prime Evil. Commander of the apartheid government’s covert Vlakplaas police unit. And what followed from this meeting was one of our country’s most poignant gestures of reconciliation. One by one, each family member expressed their forgiveness of De Kock, and soon afterwards, he was granted parole.

Candice recently visited the Bloemfontein Campus to talk about ‘An Unexpected Encounter with Eugene de Kock: A Journey of Transformation’. The event was a collaborative effort between the Institute for Reconciliation and Social Justice and Trauma, Forgiveness, and Reconciliation Studies.

“What makes it possible to cross the boundary from loss and pain to bond with the person who hurt you?” Prof Pumla Gobodo-Madikizela, asked Candice. “I had to educate myself about the when, where, and how, to get a context for Eugene de Kock,” she answered. With the encouragement of her mother, Candice became an avid reader from an early age. She devoured information, so that she could build a picture of this man within a specific historical and political context. What also contributed to this moment of reconciliation for her was De Kock humbling himself and taking full responsibility for his actions.

This meeting was not without inner conflict for Candice, though. “Why am I crying for hím?” she asked herself as she listened to him speak. “Why am I laughing?” she chastised herself as De Kock preened shyly for a group photograph with the family. “Is there something wrong with me to connect with him?” She questioned her values and beliefs. But instead of a monster, Candice saw the true essence of a repentant human being.

But how do you know he didn’t fake it, many people asked. Because it was “one of the most sincere and honest encounters I’ve experienced,” she said. During their meeting, Candice saw a man “crushed by the world”. Everything he believed as a young man, he realised, was a lie.

“Do you forgive yourself?” Candice asked the one question De Kock feared most. And in that moment, he was humanised for her. “When you’ve done the things I’ve done,” De Kock replied, “how do you forgive yourself?”
It remains an open question. But this act of forgiveness gives an entire country hope.

 

For more information or enquiries contact news@ufs.ac.za.

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