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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. 

Governor Lesetja Kganyago, at a public lecture he presented at the UFS.
Governor Lesetja Kganyago, at a public lecture he presented at the UFS.
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Governor Lesetja Kganyago
Governor Lesetja Kganyago
Prof Phillippe Burger, Pro-Vice-Chancellor and Vice-Dean of Faculty of Economic and Management Sciences
Prof Phillippe Burger, Pro-Vice-Chancellor and Vice-Dean of Faculty of Economic and Management Sciences
Governor Lesetja Kganyago and Dr Engela van Staden, Vice-Rector:Academic
Governor Lesetja Kganyago and Dr Engela van Staden, Vice-Rector:Academic
From left;Prof Hendri Kroukamp, Dean of the Faculty of Economic and Management Sciences, Governor Lesetja Kganyago, and Prof Puleng LenkaBula, Vice-Rector: Institutional Change, Student Affairs
From left;Prof Hendri Kroukamp, Dean of the Faculty of Economic and Management Sciences, Governor Lesetja Kganyago, and Prof Puleng LenkaBula, Vice-Rector: Institutional Change, Student Affairs

News Archive

Free State Arts Festival and the Department of Afrikaans and Dutch, German and French (UFS) launches first crossword tournament in SA
2016-06-14

History will be made at the Free State Arts Festival, which will this year be held in Bloemfontein from 11 to 16 July. For the first time ever in South Africa, a Crossword Tournament will be presented for the public, where Afrikaans word and language lovers can test their knowledge and speed against other competitors.

With the help of the Department of Afrikaans and Dutch, German and French, as well as Xword, the RSG Crossword Tournament will be presented on the university’s campus. In several knockout rounds on Friday 15 July, contestants will have to complete three different types of crosswords compiled by the experienced crossword team at XWord.  Points will be awarded according to a formula measuring accuracy and speed. The top ten contestants will go through to a semi-final on Saturday 16 July, after which three finalists will be selected to compete against each other in the Grand Finale. 

Apart from the coveted title, DIE RSG BLOKRAAIKAMPIOEN, prizes which are up for grabs include a year’s access to the news platforms of Netwerk24 for all three finalists, a variety of dictionaries from Pharos and Longman-HAT, a wide range of crossword books published by LAPA, and many more.

Interested persons can find more information about the RSG Crossword Tournament at www.xword.co.za. Links are also provided to free crosswords which can be printed to practice ahead of the tournament. Interested people are requested to send their names, cellphone numbers, and Email addresses to Albe Grobbelaar at XWord in advance in order to facilitate the planning for the expected number of participants. The address is albegrobbelaar@gmail.com

The cost for participants is R50, which is payable on the day of the elimination rounds at the venue on campus, South Block 1. The entrance fee includes a copy of XWord’s popular book, AfriBlokkies Blokkiesraaisels.

(Further inquiries: Albe Grobbelaar – 082 447 1900)

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