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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

South Campus supplementary schools foster future Kovsies
2016-07-13

The Monyetla Bursary Project, in partnership with the University of the Free State (UFS) and other sponsors, presents an annual Winter School for Grade 12s on the South Campus. In addition, a Saturday school for Grade 12s has been in operation since 2007.

 “Champion teachers
in the district
assist learners”

Chris Grobler, a science teacher at Navalsig High School in Bloemfontein, is the organiser of both schools. He says, “I saw it as a tragic state of affairs that those offering bursaries and the bright learners from our formerly disadvantaged schools were not meeting up with each other.”

The first year saw 300 learners attending, with five subjects being presented. This tally has since grown to 650 learners each Saturday, with 11 subjects being presented, including Business Studies, Computer Applications Technology (CAT), Geography, Maths, and English.

“Our vision was to get champion teachers in the district to assist learners to qualify for university bursaries,” says Grobler. The project has succeeded in attracting educators with extensive experience as chief markers or even subject advisors in the Department of Education.

Description: Winter school  Tags: Winter school

Roald Rautenbach presents the Computer Applications
Technology (CAT) class while Peet Jacobs interprets in SASL.
Video recordings are also made for later distribution.

Photo: Eugene Seegers

Wider reach

“This year, the 1 200 learners at the Winter School hail not only from the Free State but also from as far as North-West, Gauteng, and the Eastern Cape.” Grobler says, “We are very pleased about this, as it means that the image of the UFS is being carried further afield.”

Lesego Modisele, one of the visiting learners from Parys, says, “I like how they brought in teachers that are heads of their subjects, who are very experienced and help us a lot. They explain how exam papers are set and which important things to focus on.”

By means of the Schools Partnership Programme (SPP), 250 learners from Thaba Nchu and Botshabelo have also been assisted. Katleho Setloho, who was one of these students, is currently a medical student at the UFS.

A special feature included in this year’s programme is interpreting services in South African Sign Language (SASL) for Deaf students. As an added bonus, a disc of the sessions in SASL is being compiled for English, Mathematics, and CAT, with plans for it to be distributed to the deaf community in the rest of South Africa via the UFS.

 

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