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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

Call for campus review and participation into renaming and renewal of statues, signs, and symbols on UFS campuses
2016-08-25

 

The leadership of the University of the Free State (UFS) is issuing a Call for the renaming and renewal of statues, signs, and symbols on the three campuses to staff, students, and alumni.

In line with the founding statement and guidelines of the Naming Committee of Council, The Call will seek to retain the best representations of the history and identity of the UFS over more than a century, while committing to the transformation imperatives of our new democracy so that the totality of statues, signs, and symbols give credence to both the past and the future, all in line with the values of the Constitution of the Republic of South Africa.

Submissions should be made to the
SSSC between 21 July 2016 and 31 August 2016.
Proposals can be delivered to the
office of the Director: Communication and
Brand Management at Room 49,
Main Building, Bloemfontein Campus, or
via email to sssc@ufs.ac.za.

The ‘Guiding Principles’ of the Naming Committee, approved by Council on 8 March 2013, are transformation, reconciliation, excellence, distinctiveness, leadership, comprehensiveness, balance and sensitivity. The Policy of the UFS on Naming and Renaming is available here: http://bit.ly/2aeTLUz; and the Remit of the Naming Committee of the UFS is available here: http://bit.ly/29NXESC.

The Call will give special attention to creative submissions from staff, students, and alumni, such as signs and symbols that reflect our entangled past and place rival memories in critical conversation. Whatever is proposed, our commitment to the Academic Project and the Human Project remain foundations on which inspirational proposals could be based. In the end, a campus that is richly diverse, inclusive, and just in its symbolic infrastructure, would give visible meaning to the university’s commitment to social justice and reconciliation.

All submissions should be made to the Statues, Signs, and Symbols Committee (SSSC) between 21 July 2016 and 31 August 2016. Proposals could be delivered in hard copy to the office of the Director: Communication and Brand Management at Room 49, Main Building, Bloemfontein Campus or via email to sssc@ufs.ac.za.

Proposals will be reviewed by the SSSC, which is a subcommittee of the Naming Committee.

Final proposals will be submitted to Council for consideration at its final meeting of the 2016 academic year. In other words, new statues, symbols and signs – those approved by Council – will be implemented from January 2017.

Submissions could include, but are not limited to, the following: the renaming of streets and buildings; the proposal of new statues and other symbols on campus; the renewal of artwork collections; the reconfiguration of existing statues and symbols; the introduction of memorial gardens; the instatement of new galleries, sculptures, and literary collections; the establishment of prominent academic chairs or annual academic lectures in the name of illustrious figures, etc. Particular attention should be given to new buildings in the process of being built, such as residences.

Finally, it is important that the views and recommendations of all staff, students, and alumni be considered in submissions and that every campus citizen, past and present, has a sense of being able to participate fully and freely in the process.

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

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