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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 acquires Willem Boshoff’s digital archive
2016-07-22

“I do not want to be the only person or artist that is part of this archive, but I want it to expand and involve others too.”

These were the words of Prof Willem Boshoff, the renowned artist and, Associate Professor in the Department of Fine Arts, during the presentation of the Willem Boshoff Archive to the University of the Free State (UFS) Johannes Stegmann Art Gallery during the Vrystaat Arts Festival.

The digital archive may be consulted at the Department of Art History and Image Studies. Large parts of it will also be available on the UFS website at http://scholar.ufs.ac.za.

Conversations surrounding the digital archive

In a discussion led by Dr Francis Halsall from the National College of Art and Design, Dublin, Ireland, the discussion led to the discovery of various themes, including The idea of research, education and dialogue, doing or making, the organisation of knowledge, language and translation, word and figures or people, and the enthusiastic amateur.

Artwork attracts international attention

Alongside Prof Boshoff and Dr Halsall, many other participants who have been inspired by the artist’s work sat in on the discussion about the archive.

They included Ivan Vladislavic, author of Willem Boshoff (2004), Dr Katja Gentric, whose doctoral dissertation at the University of Bourgogne (2013) is on Boshoff’s work, and Helene Smuts, arts education writer and publisher. Josef van Wyk, a Master’s student working on Prof Boshoff’s archive, and Prof Johann Rossouw, Associate Professor of the Department of Philosophy also formed part of the discussion.

Vladislavic mentioned that Prof Boshoff’s work opens up a different form of conceptualisation. “When I first encountered Willem’s work, I was excited by it from an art historic perspective,” he said.

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