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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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First UFS/AS Young African Scholar Award winner announced
2016-03-10

Description: Fana Gebresenbet Erda Tags: Fana Gebresenbet Erda

Fana Gebresenbet Erda, winner of the first University of the Free State /Africa Spectrum Young African Scholar Award, for his research on political economy.
Photo: Supplied

Scholarship in African Studies still faces the challenge of capacity-building to increase ownership by authors and institutions from and on the African continent. It also requires more coordinated efforts to provide the space deserved by African authors in the international domain. In 2015, the University of the Free State (UFS) Centre for Africa Studies joined forces with Africa Spectrum (AS) in a bid to address this issue by establishing the UFS/AS Young African Scholar Award.

This award seeks to strengthen efforts to promote internationally recognised African scholarship in African Studies. One way to achieve this objective is through publishing articles by researchers based in Africa and in the diaspora in Africa Spectrum, an accredited journal compiled by the German Institute of Global and Area Studies in Hamburg.

The inaugural award winner

Fana Gebresenbet Erda, a PhD candidate in a Global and European Studies programme jointly offered by the University of Leipzig (Germany) and Addis Ababa University, wrote the winning article for 2015. He will receive a three-year affiliation to the UFS Centre for Africa Studies as a Research Fellow, along with prize money of R5 000, sponsored by the UFS.

His article, The Ethiopian Developmental State in Its Peripheral Lowlands: Large-Scale Land Acquisitions, the Politics of Dispossession and State Remaking in Gambella, Western Ethiopia, argues that development through large-scale land acquisitions in Gambella, Western Ethiopia, belies a state-remaking project under a dispossessive political economy.

Submission now open
Africa Spectrum invites scholars to submit research articles in the context of the award. In October of each year a review committee selects submissions for review. Those eligible to submit are postgraduate students nearing completion of their PhD theses and postdoctoral scholars who were awarded their PhDs no more than five years earlier at the time of the submission deadline. Those submitting should be from Africa or should be affiliated to African institutions.

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