Latest News Archive

Please select Category, Year, and then Month to display items
Previous Archive
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

Shimlas had the right attitude, says Scholtz
2016-02-10

 Description: Shimlas first match 2016  Tags: Shimlas

The lively Shimla flanker Daniel Maartens, who was the leading try scorer in the 2015 Varsity Cup, made a good impact as substitute against Ikeys in Cape Town.
Photo: Johan Roux

His rugby team had the right attitude to win in difficult conditions in Cape Town.

This is what Hendro Scholtz, Head Coach of Shimlas, had to say after the University of the Free State (UFS) started its Varsity Cup campaign on 8 February 2016 with a victory of 23-17 over Ikeys.

According to him, the UFS had to sweat hard until the end on a windy Green Mile, which has been the downfall of many opponents before. His substitutes also had a great impact.

Troublesome Cape wind

Shimlas have a tough draw this year, and to start in the Mother City was a huge task. Scholtz and his men have only three home matches and will play against most of the major teams in away matches.

“We knew it would be difficult in Cape Town. With the wind blowing as it does, one can't play as you would like to during the rest of the season,” the coach said.

“The guys had a will to win.”

The former Springbok believes that too much cannot be read from the first round results. The Shimlas will play their second match on 15 February 2016 against Tuks in Pretoria.

Replacements with good impact

Only the prop Rudolph Botha, flanker Fiffy Rampeta, and prop Teunis Nieuwoudt, who started against Ikeys, were involved in the 2015 final against Pukke.

Other big Shimla names, such as the prop Ox Nche, hooker Elandré Huggett, prop Conraad van Vuuren, and flanker Daniel Maartens, were sent onto the field in Cape Town after half-time.

“We had a plan with the replacements for the second half. They made a huge difference,” Scholtz said.

Rampeta was named Man of the Match, but it was Maartens and Co who turned the game in their team's favour in the second half.

Matsoele could be out of action for long

The Shimla fullback, Sechaba Matsoele, had to leave the game against Ikeys early because of a knee injury, and could be out of action for some time.

His scrumhalf, Zee Mkhabela, was also injured (by a blow to the head), so Shimlas will have to keep their fingers crossed for his quick recovery.

Scorers:
Shimlas 23 (7): Tries: Arthur Williams, Nardus Erasmus, Mosolwa Mafuma. Conversions: Stephan Janse van Rensburg (2).
Ikeys 17 (0): Tries: Khanyo Ngcukana, Nathan Nel. Conversion: Hilio de Abreu. Penalty: De Abreu.
Other results (home team first): Tuks 15, Pukke 38; UJ 19, Madibaz 12; Maties 40, CUT 0.

 

 

 

 


We use cookies to make interactions with our websites and services easy and meaningful. To better understand how they are used, read more about the UFS cookie policy. By continuing to use this site you are giving us your consent to do this.

Accept