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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

Juan Odendaal on his way to World Champs
2015-03-23

Juan Odendaal
Photo: BOOGS Photography, Andrew McFadden

UFS’s athletes with disabilities are currently excelling in cycling and athletics.

The UFS Para-cyclist, Juan Odendaal, will soon make his debut for South Africa at the 2015 Union Cyclist International (UCI) Para-cycling Track World Championships in Apeldoorn, The Netherlands, from 26-29 March 2015.

The Championship event will provide an excellent foundation for re-building the international competitiveness of South Africa’s Para-cycling track team in the build-up to Rio 2016. In a situation where the UCI has hosted relatively few international track competitions over the past three years, the 2015 World Championships will serve as a stepping-stone to the 2016 grand season, when it is expected that the country’s top riders will reach their peak competitive condition.

As the youngest member of the South African team, Odendaal will use the opportunity of competing in the individual time trial and team sprint events to build a platform for an international career will certainly span many years to come.

Another UFS student, Musa Simelane, are excelling and was chosen for the SA Wheelchair Rugby tean, known as the "Wheelboks". They will compete in the 2015 World Wheelchair Rugby Challenge in London in October and after that head to Japan to compete in the 2015 Asia Oceania Championships.

On a local level, earlier in March this year, other UFS athletes with disabilities also performed well on the athletics track.

Blind athlete and member of the Bloemfontein Campus Student Representative Council (SRC), Louzanne Coetzee, also had a good 1500m race in the beginning of March when she qualified easily for the World Championships, which will take place in Toronto, Canada, later this year. Coetzee and her guide, Rouxné Jacobs, set up a time of 5:45.86, which is well under the required standard of 6 minutes.

The other blind UFS athlete, Danie Breitenbach, alongside his guide Marius Wessels, broke his own national record for the 800m again on Friday 6 March 2015. In November 2014, Breitenbach’s record stood at 2:15.17. This record now stands at 2:13.57. Chances now are that Breitenbach will reach his goal of running the 800m under 2:10 at the Nedbank National Championship for the Physically Disabled at the end of March 2015.

The other Kovsie stars who will be participating at the Nedbank National Championship for the Physically Disabled are as follows:

Athletes:
• Dineo Mokhosoa
• Louzanne Coetzee
• Danie Breitenbach
• Juanré Jenkinson
• Diederich Kleynhans
• Jacques de Bruyn

Swimmer:
• Johann van Heerden

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