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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. 

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Regional winner designing her way to Architectural Student of the Year Award
2016-03-09

Description: Corobrik award Tags: Corobrik award

Musa Shangase, Corobrik Commercial and Marketing Director, and Nilene van Niekerk.

For 29 years, Corobrik has been celebrating the most outstanding architectural talent in South Africa. This year, Nilene van Niekerk – a master’s graduate of the University of the Free State (UFS) Department of Architecture – features as one of the regional winners.

Deciding on a dissertation topic, Nilene contemplated how she could use architecture as a tool to address a non-architectural contemporary problem specific to post-apartheid democratic South Africa. Her answer was born from her passion for freedom of speech. “Freedom of speech and the intimidation of journalists by the controversial Secrecy Bill were at the forefront these past few years,” Nilene says. “Although freedom of expression are generally protected practices in South Africa’s constitution, the persistent role of the government to protect state information is a substantial threat to citizens’ constitutional right of freedom of expression.”

This resulted in Nilene’s dissertation topic, Freedom of Expression Forum. This architectural concept envision a building, in the vicinity of Constitutional Hill, that symbolises protest against the Secrecy Bill. The building will provide “protection to journalists and become a pivotal point where classified information can be sent and archived. It will also establish a public space that encourages communication – all in the name of fostering the right of freedom of expression within this human rights precinct,” Nilene says.

Nilene will now go on to compete for the national title at the Corobrik Student Architect of the Year Awards in Johannesburg in May 2016.

“The project also rethinks the idea of sustainability as it focuses on how to contribute to a sustainable political future in South Africa. I believe that we as architects, especially in a third world country, should think beyond the normative boundaries of sustainability,” Nilene says.

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