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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

UFS Council adopts guidelines for the development of a new Language Policy
2015-12-04

The Council of the University of the Free State (UFS) adopted the following guidelines from the report by the Language Committee regarding the development of a new Language Policy for the UFS, based on the core values of inclusivity and multilingualism:

  1. that English becomes the primary medium of instruction in undergraduate education and, as largely exists already, in postgraduate education.
  2. that the UFS embeds and enables a language-rich environment committed to multilingualism, with particular attention to Afrikaans, Sesotho, isiZulu, and other languages represented on the three campuses.
  3. that an expanded tutorial system be available to especially first-year students in Afrikaans, Sesotho, isiZulu and other languages, in order to facilitate the transition to English instruction.
  4. that the parallel-medium policy continues in particular professional programmes, given the well-defined Afrikaans markets that, at the moment, still makes such language-specific graduate preparation relevant.
  5. that the language of administration be English.
  6. that the English-medium language policy be implemented with flexibility and understanding, rather than as a rigid rule disregarding the circumstances.

These guidelines were adopted at the Council meeting which took place on the Bloemfontein Campus on Friday 4 December 2015.

“This important and emotive matter was discussed in a high-quality, open debate and I am satisfied with the way the decision was reached,” says Judge Ian van der Merwe, Chairperson of the UFS Council.

The decision by Council comes after a mandate was given to the University Management on 4 June 2015 to conduct a review of the institutional Language Policy. A Language Committee was subsequently established by the University Management Committee (UMC) to undertake a comprehensive review of the existing parallel-medium policy and to make recommendations on the way forward with respect to the university's Language Policy.

The Language Committee conducted a comprehensive consultation process on the future of the Language Policy with all university stakeholders. This included multiple dialogue and submissions sessions, as well as an opinion poll on all three campuses.

Guided by the Council resolution of 4 December 2015, the UFS management will now proceed to design a Language Policy that would be presented to the UMC and Senate for voting purposes again, which vote would be formally presented to Council at one of its governance meetings in 2016. The Institutional Forum, a statutory body that represents all university stakeholders, would also advise Council at that stage, per its mandate, on the new Language Policy.

In the event that a new Language Policy is accepted by Council in 2016, the earliest possible date for implementation would be January 2017.


Related articles:

http://www.ufs.ac.za/templates/news-archive-item?news=6567 (26 November 2015)
http://www.ufs.ac.za/templates/news-archive-item?news=6540 (28 October 2015)
http://www.ufs.ac.za/templates/news-archive-item?news=6521 (20 October 2015)
http://www.ufs.ac.za/templates/news-archive-item?news=6469 (30 August 2015)
http://www.ufs.ac.za/templates/news-archive-item?news=6444 (25 August 2015)

 

 

 

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