Latest News Archive

Please select Category, Year, and then Month to display items
Years
2017 2018 2019 2020
Previous Archive
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

Trevor Manuel and Max du Preez among the recipients of honorary doctorates at UFS graduation
2016-07-02

Description: 4 Hon Docs Tags: 4 Hon Docs

The UFS awarded four honorary doctorates
at its Winter Graduation ceremonies.
The recipients are from left Max du Preez,
Dr Reuel Jethro Khoza, Prof Joel Samoff
and Trevor Manuel at the UFS Chancellor’s
Dinner on 30 June 2016.

Photo: Johan Roux

He is excited about the young minds he saw and interacted with at the graduation ceremony of the University of the Free State (UFS). This is what Max du Preez, one of South Africa’s leading journalists and political analysts, said after receiving an honorary doctorate.

According to Du Preez (Humanities), he was inspired by the Winter Graduation ceremony on 30 June 2016 in the Callie Human Centre on the Bloemfontein Campus. He is happy to finally also call the UFS his alma mater. He grew up in Kroonstad and is a true Free Stater, but previously graduated at the Stellenbosch University.

The UFS awarded four honorary doctorates – the others to Prof Joel Samoff (Humanities), Trevor Manuel and Dr Reuel Jethro Khoza (both Economic and Management Sciences) – and two Chancellor’s medals at the morning ceremony on 30 June 2016. Chancellor’s medals were awarded to Antony Osler and Marguerite van der Merwe (née Osler).

Manuel impressed by amount of soul

At the Chancellor’s Dinner, which was held in the Centenary Complex on the Bloemfontein Campus on 30 June 2016, Du Preez said he feels honoured. He said South Africans must embrace the diversity of the country, and the UFS is a good example. “If the University of the Free State can make it, South Africa can make it.”

Manuel, a former South African Finance Minister, said he is honoured by the amount of soul he experienced from Dr Khotso Mokhele, UFS Chancellor, and Prof Jonathan Jansen, Vice-Chancellor and Rector of the UFS. “We cannot tolerate what is wrong (in the country) and need to push the boundaries of what is right,” he said.

UFS stands out regarding understanding


Dr Khoza, a distinguished thinker and businessman, also thanked the UFS at the Chancellor’s Dinner. “We shall strive to be known less for what we say, but rather more for what we do,” he said about the country.
According to Prof Samoff, Professor in Africa Studies at Stanford University (USA), “South Africa has committed itself to building a democratic, non-racist, and non-sexist society”. “Where the University of the Free State stands out, is in its understanding that societal change – ‘transformation’, to use the current terminology – is not an outcome, but a process. A difficult process.”

 

Media Enquiries

Contact person: Lacea Loader (Director: Communication and Brand Management)
Tel: +27(0)51 401 3422/2707 or +27(0)83 645 2454
Email: news@ufs.ac.za | loaderl@ufs.ac.za
Fax: +27(0)51 444 6393

We use cookies to make interactions with our websites and services easy and meaningful. To better understand how they are used, read more about the UFS cookie policy. By continuing to use this site you are giving us your consent to do this.

Accept