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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

UFS student government elections declared free and fair
2015-09-04

The 2015/2016 Student Representative Council (SRC) elections on the Bloemfontein and Qwaqwa Campuses of the University of the Free State (UFS) have been declared free and fair.

The institutional Independent Election Commission Chairperson, Mandla Ndlangamandla, commended the high level of cooperation displayed by all students who participated in the peaceful and organised elections on the Qwaqwa Campus.

“We are proud to indicate that from the beginning of the election process, there were no incidents of intimidation, disruption, threats, and violence that were reported,” he said.

Announcing the election results at Bloemfontein Campus, the representative of the Electoral Commission of South Africa (IEC), Andrew Ndelele, also confirmed that the commission had ensured that the elections were credible.

Voter turn-out increased at both campuses compared to the previous year. The elections, which took place from Friday 28 August to 1 September 2015, saw 8% and 0.7% increases in votes casted at the Qwaqwa and Bloemfontein Campuses, respectively. 

Paseka Sikhosana, President-elect of the Qwaqwa Campus, commended the unity and orderliness displayed by students: “After the polling stations had closed, we came together and sang in peace”.

Incoming SRC President of the Bloemfontein Campus, Lindokuhle Ntuli, also endorsed the impartiality of the elections, while expressing how humbled he was by the support he received during the campaigning period.

Bloemfontein elective portfolios:



Bloemfontein Campus president: Lindokuhle Ntuli
Photo: Johan Roux

President: Lindokuhle Ntuli
Vice-President: Mpho Khati
Secretary: Tsietso Mafaso
Treasurer: Katleho Masheane
Culture: Delia Moumakwe
Sport: Kabelo Elijah Noosi
Transformation: Katleho Mmolayeng Letube
Student Accessibility and Support: Victor Fana Sejane
Media and Marketing: Peo Morwesi Segano
First-generation students: Nicola King
Legal and Constitutional Affairs: Luke Harrold Small
Student Development and Environment: Karabo Pheko

Bloemfontein ex officio portfolios:

Associations Student Council: Sikhulekile Luwaca
Academic Affairs Student Council: Letsika Liqoalane
Campus Residences Student Council: Ingrid Wentzel
Commuter Student Council: Audrey Sithebe
Postgraduate Student Council: Kamogelo Dithebe
International Student Council: Takudzwa Gezi
Student Media Council: Hatsu Mphatsoe
Rag Fundraising Council: Tubatsi Moloi
Rag Community Service Council: Johan Diedericks

Qwaqwa Campus president: Paseka Sikhosane
Photo: Thabo Kessah

Qwaqwa elective portfolios:

President: Paseka Sikhosane
Vice-President: Zethu Mhlongo
Secretary: Nondumiso Langa
Treasurer: Palesa Selepe
Student Development and Environmental Affairs: Lindokuhle Ngubane
Media and Publicity: Bongiwe Buthelezi
Politics and Transformation: Nthabiseng Mokoena

Qwaqwa ex officio portfolios:

Academic Affairs: Edward Nkadimeng              
Arts and Culture: Kwenzakwenkosi Mthethwa
Sports Affairs: Thabo Zengele                           
Rag and Dialogue: Dieketseng Mokoena
Religious Affairs: Mamosebetsi Mokoena         
Residence Affairs: Pheletso Moekoa
Off-Campus: Nicholas Sibeko

 

 

 

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