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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. 

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Artistic development at UFS to transform the face of Bloemfontein creatively
2015-07-02

The 7-metre high ‘Urban Fox’ is one of Alex Rinsler's artworks adding a fragment of the wild to the city of Shanghai in China.

Bold, bright, and beautiful public art sculptures are in the inception phase at the university’s Bloemfontein Campus. Manchester-based public artist, Alex Rinsler, of the Programme for Innovation in Artform Development (PIAD)’s forum for artist development, is to install three enthralling sculptures in the city of Bloemfontein.

The PIAD forum for artist development is an initiative of the Vrystaat Arts Festival, formerly known as the Vryfees, which aims to celebrate art in the Free State by hosting experimental art practices. In its capacity as a PIAD partner, the University of the Free State promotes increased access to, and participation in, culture as a form of human development.

Presenting an artist’s talk titled ‘Urban Safari: Art in public space,’ on the Bloemfontein Campus recently Rinsler introduced himself and his creative ideas to students, staff, and the public at the Johannes Stegman Art Gallery. The talk served as an invitation to the active participation of Bloemfontein citizens in all phases leading to the installations. Dispersed across the Mangaung Metropolitan, the giant sculptures are intended to capture and reflect different aspects of the community’s lived experiences. 

As a public artist based in the United Kingdom (UK), Rinsler has exhibited in cities nationally and internationally, with the intention of bringing a touch of the wild to urban lives. His vision is to witness the development of cities into cultural boulevards, and explore “what we can do to bring back the sense of nature, the wild” by adding new symbolism to urban lifestyle.

“I believe in creating work accessible to the public, which stimulates conversation,” said the Clore Leadership Programme Fellow (University of Manchester) and Founder of Pirate Technics - an artistic practice company.

In 2012, he worked with 31 Master’s students from 24 countries on an icon for global peace named “Under the Baobab” in London. The colourful and magnificent Baobab tree made from pieces of fabric representing distinct cultures told the story of migration to London.

Rinsler is determined that the Bloemfontein “project, similar to the London installation, will create imagery that people will remember.”

Dr Ricardo Peach, Director of the Vrystaat Arts Festival and PIAD, hopes the project fosters diversity while producing a “communal cultural product." 

“What I know about Alex’s work is that he will be working with what he calls a self-selected community, people who are interested in this, and who want to work together to build these sculptures, as part as a process for them to get a sense of where they belong, and their input into the city. It’s about people telling their own stories.”

The public installations are a way of transforming the landscape, and connecting people of “a place like Bloemfontein where communities are often still so divided,” said Peach.

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