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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

Wayde, Karla crowned as KovsieSport’s best
2015-10-21

 

The pride of KovsieSport. From the left, are: Ox Nche
(UFS Junior Sportman of the Year), Karla Mostert
(Senior Sportswoman of the Year), Wayde van Niekerk
(Senior Sportsman of the Year), and Brett Walraven
(on behalf of his sister, Nicole Walraven – Junior Sportswoman of the Year).
Photo: Hannes Naude

The journey does not belong to him alone, but to everyone at KovsieSport.

These were the words of University of the Free State’s (UFS) Wayde van Niekerk, after being named as KovsieSport’s Senior Sportsman of the Year on Wednesday 21 October 2015.

The South African sports star walked away with the award for the third consecutive year, while the Protea netball defender, Karla Mostert, was crowned Senior Sportswoman for the first time.

The Junior Bok, Ox Nche, and the Protea hockey player, Nicole Walraven, were named as Junior Sportsman and Junior Sportswoman of the Year respectively.

Nche represented South Africa’s U20 rugby team this year at the Junior World Championships, played for the Shimlas, and was named the UFS Rugby Club’s best junior player.

Walraven made her debut for South Africa in 2015. She was crowned jointly as the best player at the Provincial U21 tournament, and was also Hockey South Africa’s U21 Player of the Year.

Van Niekerk won gold in the 400 metres at the World Championships in Beijing, becoming only the fourth athlete in history to run the 400 m in less than 44 seconds, and the 200 metres in less than 20 seconds.

“This is precious, and something I will cherish as an athlete: being part of KovsieSport,” he said.

“I arrived at the UFS as a high school boy, started as a junior, and was accepted immediately.”

“I really appreciate everybody who played such a huge part in my life.”

Mostert was named as Player of the Series in the Brutal Fruit series, as well as the Varsity series this year. She was also a star for the Proteas at the World Cup.

“This (the award) is definitely a good way to end my time at Kovsies. This is something one is trying to achieve for years, so it really is a highlight.”

She said it was difficult to describe how much KovsieSport is doing for its athletes, and this was the reason why the UFS achieves so many successes in sport.


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