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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

Three netball players in USSA Dream Team
2016-07-26

Description: UFS netball team Tags: UFS netball team

Alicia Puren and the UFS netball team lost 43-44 against
the Pukke in the USSA semi-finals in Cape Town.
Photo: Johan Roux

Although they could not improve on 2015’s second place, the Kovsies were still rewarded. After the USSA tournament, held from 4 to 8 July 2016 in Cape Town, three netball players from the University of the Free State (UFS) were included in the Dream Team. They were the captain Tanya Mostert, vice-captain Khomotso Mamburu, and Alicia Puren.

Mostert and her team had to settle for third place, after losing narrowly to Pukke 43-44 in a semi-final. They beat Maties 45-42 to win the bronze medal. Earlier, they had outplayed the University of Johannesburg (64-38) and Pukke (59-40), but lost against Tuks 48-49.

Women’s hockey team finish fourth

The UFS women’s hockey team had to settle for the fourth place at the USSA tournament in Johannesburg after they lost to Maties 2-4 in the match for the third place.

The UFS men’s team was sixth overall in the City of Gold.

Shimlas suffer several narrow defeats

After a number of narrow defeats, the Shimlas unfortunately only managed one USSA victory in East London, ending fifth overall. They lost against Maties (29-31) and Pukke (29-31), but beat Ikeys (25-0).

UFS squash team won B Division

Maryke Coetzee from Kovsies won the individual competition in the women’s B Division at the USSA squash tournament in Stellenbosch. The UFS was the overall winner in Division B.

The Kovsie women’s basketball team finished sixth at the USSA tournament in Johannesburg, with the men in the 13th place.

  • The UFS did not send badminton and volleyball teams, as planned, to Stellenbosch and Pretoria, respectively.

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