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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. 

Governor Lesetja Kganyago, at a public lecture he presented at the UFS.
Governor Lesetja Kganyago, at a public lecture he presented at the UFS.
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Governor Lesetja Kganyago
Governor Lesetja Kganyago
Prof Phillippe Burger, Pro-Vice-Chancellor and Vice-Dean of Faculty of Economic and Management Sciences
Prof Phillippe Burger, Pro-Vice-Chancellor and Vice-Dean of Faculty of Economic and Management Sciences
Governor Lesetja Kganyago and Dr Engela van Staden, Vice-Rector:Academic
Governor Lesetja Kganyago and Dr Engela van Staden, Vice-Rector:Academic
From left;Prof Hendri Kroukamp, Dean of the Faculty of Economic and Management Sciences, Governor Lesetja Kganyago, and Prof Puleng LenkaBula, Vice-Rector: Institutional Change, Student Affairs
From left;Prof Hendri Kroukamp, Dean of the Faculty of Economic and Management Sciences, Governor Lesetja Kganyago, and Prof Puleng LenkaBula, Vice-Rector: Institutional Change, Student Affairs

News Archive

Kovsie fencers dominate the Free State Fencing Closed Competition
2015-10-19


The ultimate clash of the fencing titans Photo credits: Robynne van Zuydam.

Willem Brink and Wanda Verster fenced their hearts out at Free State Closed Competition, winning gold medals in the men’s and women’s category, respectively. These University of the Free State students dominated opponents from the Vrystaat Amateur Skerm Klub (VASK).

Fencers from the VASK retaliated bravely in defense of their honour on Saturday 12 September 2015, with Jurgen Schroder taking home a Silver medal. His team mates, Ruan Coetzee-Schroder and Shaeffer Georgiou, shared the Bronze medal. A winning performance placed VASK’s Danielle Ceronio and Stella Heyns in the Bronze realm.  Kovsie Fencing’s Kayla de Gouveid shared the spot with Stella as a bronze recipient.

It was a clash of the titans as 27 participants formed opposing teams. The University of the Free State (UFS) team, who hosted the competition, showed the guests no sign of mercy as they triumphed.

Wanda was impressed by the UFS’s performance. “The students performed very well, especially considering that most of them started fencing just this year.”

“Willem Brink, who finished with gold, started fencing in 2012.  He finished with a Bronze medal at the Free State Closed competition held earlier, in May 2015 The first fencer to reach 15 wins,” said the Kovsie Fencing representative.

The club will represent our university at the University of Pretoria (TUKS) Open where fencers from the entire country will compete on 25 and 26 September 2015.  The club is also preparing for the University Sports South Africa (USSA) tournament and the Limpopo Open that take place in November and December, respectively. These competitions serve to pave the way for the July 2016 nationals, where Kovsies hope to make their mark as champions.

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