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

Mandela statues and the issue of public representation
2015-09-04

   

Prof Grant Parker, Associate Professor of Classics and Co-Director of the Centre for African Studies at Stanford University, USA, presented a public lecture on the Bloemfontein Campus on 27 August 2015, in which he explored the topic of ”Memorialising Mandela after Rhodes Must Fall”. What stories do the multitude of Mandela statues tell us about the man? Our society? Ourselves? These were some of the questions Prof Parker addressed during his lecture.

Paradoxes
Prof Parker discussed some of the paradoxes presented by the Mandela statues. The huge 9m high Mandela statue at the Union Buildings in Pretoria does not necessarily reflect his humility. Iconic statues strewn across the world do not reveal Madiba’s appeal. “Madiba’s charm,” Prof Parker said, “was all about his ability to relate to people of very different backgrounds. People who were his enemies would – to their surprise – find a humanity they were not expecting. It’s very hard to reconcile that with the colossal statues.”

Rhodes Must Fall
On the topic of the Rhodes Must Fall campaign, Prof Parker said that “the debates around it seem to express the frustration of deepening equality in general and lack of demographic change.” He also believes that, although the campaign centres on statues, there are much deeper issues at play that need to be addressed.

Artists should be part of the conversation
Prof Parker also advocated that artists’ voices should be incorporated into the creative processes of public art. “There is a much greater need for creative artists,” he concluded, “to be part of conversations, not only about what we as South Africans want to commemorate, but how we do that. I would very strongly suggest that this be done by non-figural representations.”

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