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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 hosts first ACS Institute held on African soil
2015-12-08



The first ever Association for Cultural Studies (ACS) Institute hosted on the African continent is taking place on the Bloemfontein Campus. At the event are, from the left: Prof Jonathan Jansen, Vice-Chancellor and Rector of the UFS; Prof Jean Comaroff, Alfred North Whitehead Professor of African and African-American Studies and Anthropology at Harvard University; Prof Helene Strauss, Chair of the Department of English at the UFS; and Prof Gil Rodman, Chair of the Association for Cultural Studies and Professor of Communication Studies at the University of Minnesota.
Photo: Johan Roux

The University of the Free State (UFS) is hosting the 2015 conference of the Association for Cultural Studies (ACS) Institute – the first time for this international event to take place on the African continent.

From 7 – 12 December 2015, some of the world’s leading scholars in cultural studies are taking part in the conference on the Bloemfontein Campus. The event has been organised by the UFS Department of English in collaboration with colleagues from other departments in the Faculty of the Humanities.

 The ACS is the foremost international association for scholars in cultural studies, and has been hosting the biennial Crossroads in Cultural Studies Conference since 2006. In 2011, the ACS held its inaugural institute at the University of Ghent (Belgium), followed, in 2013, by one at the Alpen-Adria University Klagenfurt (Austria). As the 2015 meeting of the institute is the first to be held in Africa, the organisers aim at highlighting the contributions that scholars from our continent and other (post)colonial contexts have made to cultural studies, even as it engaged many of the long-standing theoretical concerns generated for the field by scholars from the Global North.

Themed ‘Precarious Futures’, the conference explores how cultural studies might assist in charting more equitable futures by reflecting critically on the cultural, economic, and political trajectories within which precariousness – a state increasingly anticipated for the planet – might be altered. Experts in a diversity of disciplines are sharing their perspectives in the form of seminars and lectures.

Keynote lectures are delivered by Prof Jean Comaroff (Harvard University), Prof John Erni (Hong Kong Baptist University), Dr Jo Littler (City University London), Dr Zethu Matebeni (University of Cape Town), and Prof Handel Kashope Wright (University of British Columbia).

In her opening lecture on Monday 7 December 2015, Prof Comaroff addressed the challenging relationship of law, detection, and sovereignty in contemporary African polities within the South African post-apartheid context.

Topics discussed include climate change; the archives of everyday life; cross-racial intimacies; ethnography; meritocracy; cultural studies and human rights; China and globalisation; gender, sexuality, and race; and governance, embodiment and the work of care.

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