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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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Motho ke motho ka batho. A person is a person through others.
2016-04-26

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Student Bursary Fund Campaign booklet (pdf)
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Student Bursary Fund Campaign launched: #FundAFuture and make a difference

 

“I never imagined that I would have the opportunity to study further. For that to happen, the heavens had to forge a way.” Mixed feelings dapple Jean-Pierré van der Walt's face as he recounts the miracles - and hardships - of his journey.

Motho ke motho ka batho. A person is a person through others.

Jean-Pierré is one of ambassadors of the Student Bursary Fund Campaign, launched by the University of the Free State (UFS). The project aims to raise R100 m to fund talented, deserving students who do not have the financial means to obtain a university degree. This financial support will change the future irrevocably for many young people in our country, young people who are similar to Jean-Pierré.

Description: Jean-Pierré van der Walt Tags: Jean-Pierré van der Walt

Jean-Pierré van der Walt
Photo: Sonia Small

“When I was in matric, going to university was never an option.” Surmounting his financial circumstances seemed impossible. “It made me feel despondent, and I thought to myself: after school, what would my life be like, where am I going?” It was at this juncture in his life that a funding opportunity enabled him to pursue his dream of making a difference in the world through education. He embarked on a BEd degree in Senior and FET (Further Education and Training) Teaching, which he completed in 2015.

“Varsity taught me to stand up for myself, to make my voice heard,” Jean-Pierré says. “If I did not have the opportunity to attend university, I would have missed my calling in life: to show the world that, despite your physical restrictions, you can still make a difference.” Jean-Pierré is differently-abled as a result of cerebral palsy.

Looking to be placed as an English and Sesotho teacher, Jean-Pierré is eager to teach children that anything is possible, regardless of heritage, family life, or circumstances. “Motho ke motho ka batho. A person is a person through others,” he says is the philosophy he lives by. “One cannot survive in solitude; one needs others to go further in life.”

In the same way, the UFS needs your support and generosity. Each contribution will bring us closer to our goal of R100 m, and to changing the landscape of our youth’s future.

Visit our Giving page for ways to donate.

 

For enquiries or further information:
T: +27(0)51 401 3966 | E: FundAFuture@ufs.ac.za | www.ufs.ac.za

 

 


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