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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. 

News Archive

UFS Choir excited about Varsity Sing
2016-06-29

Description: 001 UFS Choir Group 2016-06-29 Tags: UFS Choir Group

The University of the Free State choir will
perform in the Sand du Plessis Theatre in
Bloemfontein on 30 June 2016 as part of
the Varsity Sing competition.
Photo: Supplied

“We believe the competition will increase the exposure of the choir, and we will start to be taken seriously by different stakeholders,” says Sive Makombe from the University of the Free State (UFS) Choir Management.

Makombe and Marischa van Zyl, also from the UFS Choir Management, are excited about Varsity Sing, a new choral competition for university choirs. They will compete for the final prize of being crowned as the best university choir in South Africa.

Competition broadcast on kykNET


Earlier this year, Varsity Sports announced their new intervarsity ‘sporting’ venture, the inaugural Varsity Sing. The concept is aimed at boosting and increasing awareness around university choirs. It will be broadcast as a television programme, Varsity Sing, and aired from 14 July 2016 on kykNET on DStv. Twelve universities from around the country will be taking part in the competition.

Support your university free of charge

As one of the competing choirs, the UFS Choir, like the other participating choirs, will with the competition give its members something to work towards. The choir will feature in the fourth round, competing against the Central University of Technology and Mangosuthu University of Technology on 30 June 2016 in the Sand du Plessis Theatre in Bloemfontein.

The show, from 18:30 to 21:00, will be free of charge. This will give the UFS community the chance to come out in numbers. Tickets can be obtained by contacting Tonderai Chiyindiko at chiyindikot@ufs.ac.za or at the door on the night of the competition.

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