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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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Meet our Councillor Ryland Fisher - media expert, political commentator, art lover
2016-07-13

Description: Ryland Fisher   Tags: Ryland Fisher

Ryland Fisher
Photo: Johan Roux

With more than 30 years’ experience in the media industry as former editor of the Cape Times and New Age, as well as assistant editor of the Sunday Times, and thanks to a profound understanding of the political situation in South Africa, Ryland Fisher was an obvious choice to serve on the Council of the University of the Free State.

Racial issues and diversity

He was born and bred in Cape Town, and studied Journalism at Rhodes University before the political situation in South Africa interrupted his studies. Despite this, Ryland has made a deep impression on the academy. Among others, he presented lectures on racial issues and diversity at the University of Cape Town, the Institute for the Advancement of Journalism in Johannesburg, Emory University in Atlanta, and Ohio University.  

Author and editor

Ryland has published two books, Race in 2007 and Making the Media Work for You in 2002, and was editor of the Official Opus on Nelson Mandela.

He was elected to the UFS Council in 2015. Ryland believes that his particular background and understanding of the media industry, as well as race and diversity issues, will make a valuable contribution to the Council.

Politics, media, and entrepreneurship

"I have proven experience in politics, the media, and entrepreneurship. I often lecture on media and social transformation. I believe this offers me a unique view that could benefit Council," he says.

Ryland has a particular enthusiasm for the arts, and is executive chairman of the Cape Town Festival. He has been married for over 30 years, and his three daughters lie close to his heart.

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