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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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Prof Dejene’s inaugural lecture to focus on light energy

Description: Prof Dejene Tags: Prof Dejene

Prof Francis Dejene
Photo: Thabo Kessah

The Dean of the Faculty of Natural and Agricultural Sciences, Prof Danie Vermeulen, and the Assistant Dean, Dr Tom Ashafa, will be hosting the inaugural lecture of Prof Francis B Dejene on Friday 6 May 2016 at 17:00 in the New Science Building Auditorium on the Qwaqwa Campus.

Prof Dejene, a Professor of Physics in the areas of solar energy and phosphor, is a National Research Foundation C3-rated researcher with more than 100 articles in international peer-reviewed journals as well as more than 1 000 citations in author references. He has also made more than 100 national and international conference contributions. Prof Dejene has also acted as a reviewer of about 15 international and national professional journals and has supervised more than 25 MSc and PhD students.

The subject of the lecture will be ‘Light energy in service of mankind – from nanoscale to microscale’.

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