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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

UCT scholar in Philosophical Psychology of Black Existence to join Judge Albie Sachs on stage
2015-03-23

Dr Buhle Zuma, listed as one of the 2011 Mail & Guardian 200 Young South Africans, is coming to the Bloemfontein Campus. He will share a stage with civil rights activist and former Constitutional Court, Judge Albie Sachs, on Thursday 26 March 2015 in the Albert Wessels Auditorium at 12:30.

Respondent to Judge Sachs

A former Mandela Rhodes scholar, and currently a young lecturer at the University of Cape Town's Psychology Department, Dr Zuma is particularly interested in issues at the heart of our rainbow nation . His research asks the question: What does it mean to be human for black people after centuries of dehumanisation? Dr Zuma also looks at the role of desire and fantasy in the political imagination of post-apartheid South Africa. He describes his developing thought and work as the Philosophical Psychology of Black Existence.

Dr Zuma will act as respondent to Judge Sachs’ public lecture, ‘Sites of memory, sites of conscience’ [Hannes, please link to the article on the main website]. This lecture will form part of a series that focuses on how the creative arts represent trauma and memory – and how these representations may ultimately pave the way to healing historical wounds.

Vice-Chancellor’s Lecture Series on Trauma, Memory, and Representations of the Past

This lecture will launch of the Vice-Chancellor’s Lecture Series on Trauma, Memory, and Representations of the Past. It forms part of a five-year research project led by Prof Pumla Gobodo-Madikizela [], funded by the Mellon Foundation []. The event is hosted by the UFS Trauma, Forgiveness and Reconciliation Studies [].

Dr Zuma lives by the belief that, if he imparts what he learns and knows lovingly and creatively, the world will be the better for it.

Details of the event:

Date: Thursday 26 March 2015
Time: 12:30
Venue: Albert Wessels Auditorium, Bloemfontein Campus
RSVP: Jo-Anne Naidoo at Naidooja@ufs.ac.za

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