Latest News Archive

Please select Category, Year, and then Month to display items
Previous Archive
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

Leadership and responsible citizenship: key themes at the Global Leadership Summit
2015-07-09

Photo Gallery 

Leadership and responsible citizenship have been the main topics of discussion at the Global Leadership Summit which started on 5 July at the UFS Campus in Bloemfontein, and will continue until 17 July. More than 103 international delegates from various universities in Asia, the United States, and Europe, as well as 40 student delegates from the University of the Free State, are attending.

Kick-starting the summit talks was Prof Joel Samoff (Stanford University) who led discussions on transformation in institutions around the world. “Transformation is a constantly-changing interaction.  It is not a single objective, but a process, “ he said. This was followed by a robust panel discussion with student leaders of the UFS and those from James Madison University, Mount Holyoke College, and Rutgers University, who described the journey of transformation at their various universities.  “Young people are leading themselves in a different way, the context of the society we live in has changed,” said a UFS Student.

Keynote speaker, Zelda la Grange, gave an account of her experiences and the colourful journey of discovery of a “different” South Africa, working with President Nelson Mandela for 19 years, a journey that is the subject of  her book, “Good Morning Mr Mandela “. Under the theme “Breathing the same air: A metaphor for human solidarity, Prof Pumla Gobodo-Madikizela, Senior Research Professor in Trauma, Forgiveness, and Reconciliation Studies led a talk with Candice Mama, the daughter of slain anti-apartheid activist, Gelnack Masilo Mama, one of the victims of the former hit squad commander, Eugene de Kok. Candice inspired the audience with her philosophy on life and letting go of trauma: “Forgiveness is a process, and one needs to forgive to be able to be liberated from anger and bitterness,” she said.

Dr Lis Lange, Vice Rector: Academic, UFS spoke of citizenship and freedom, focusing on the responsibility that humans have to create ethical, positive, and meaningful interaction in their daily lives and in their societies across the globe.

As part of the programme, delegates will visit the Qwaqwa Campus on 10 July 2015, where they will interact with the leadership of the campus, its staff, and students, and enjoy an arts and cultural experience of the Eastern Free State.  The summit will end with a visit to various sites in Bloemfontein, where delegates will engage in community-based outreach activities in disadvantaged communities around the city. 

UFS to host second Global Leadership Summit

We use cookies to make interactions with our websites and services easy and meaningful. To better understand how they are used, read more about the UFS cookie policy. By continuing to use this site you are giving us your consent to do this.

Accept