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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

Brazil: Wayde’s dream destination since childhood
2015-12-15


Wayde van Niekerk knows he has to work even harder in 2016 if he wants to achieve success at the Olympic Games in Rio de Janeiro. Photo: Charl Devenish

When he was still in primary school, Wayde’s dream destination was Brazil. Even his dog’s name is Rio.

So it almost seems written in the stars for Wayde van Niekerk to take part in the 2016 Olympic Games in Rio de Janerio.

According to the 400m athlete of the University of the Free State (UFS), the Olympics has been something he has been dreaming about for years.

Van Niekerk, who studies BA Marketing at the UFS, has had a phenomenal 2015 season, and the whole of South Africa hopes he can repeat his outstanding form in Rio. The Olympics will be held from 5-21 August 2016.

Funny story

“It actually is a funny story. You know when you are in primary school, and the teacher says you have to write down your dream destination. Mine was Brazil,” Van Niekerk revealed.

“In 2012 at the closing ceremony of the London Olympics, I saw they introduced Rio as the next hosting country, and I thought Wow! That is where I want to be, and what I want to do.

“That opened my eyes and I knew God has a plan for me. I have to put in the hard work and achieve something with my life. Luckily from there on, there was pure growth in my life and I am grateful for that.”

His dream is also carried by his dog, Rio, a husky he got about two years ago.

Preparation in 2016

Van Niekerk will follow a specific programme leading up to Rio 2016.

In February next year, he will still be taking things easy, but will probably compete for the UFS in the Varsity Sports athletics.

“You have to build up slowly to peak at the right time,” he said.

In June 2016, he will start competing internationally in Jamaica, then New York, the All-Africa Games in Durban, and then,  some Diamond League events before the Olympics in August.

In the archive:

KovsieSport star

NBC tells waydes story

Wayde nominated as SAs best

Wayde Adidas face

Wayde’s hat trick of awards

Congratulate wayde and other achievers

Wayde wins gold

Kovsie trailblazing track runner

Kovsie gold medalist

Kovsie Campion sprinter

Wayde sets African record

Kovsies keep winning, this time in athletics

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