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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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Odeion String Quartet performs in Tanzania and Austria
2016-11-18

Description: Odeion String Quartet performs in Tanzania and Austria Tags: Odeion String Quartet performs in Tanzania and Austria

The Odeion String Quartet will build
international relationships when
it visits Tanzania and Austria.
Photo: Supplied

To be an ambassador for the University of the Free State (UFS) is a goal of the Odeion String Quartet (OSQ) and that is exactly what it will do through international visits to Tanzania and Austria. The OSQ, the only residential university quartet in South Africa, will play concerts abroad, share knowledge and build relationships.

It visits Dar es Salaam, Tanzania, from 17 to 20 November 2016 and Austria from 29 November to 4 December 2016. The quartet, which constitutes string lecturers at the Odeion School of Music, consists of Samson Diamond, Sharon de Kock, Jeanne-Louise Moolman and Prof Anmari van der Westhuizen Joubert.

A humbling experience
The OSQ was invited by Hekima Raymond, founder and conductor of the Dar Choral Society, to Tanzania to assist the symphony orchestra. Raymond is a self-taught pianist and conductor and was nominated for a BBC Outlook Inspirations award in 2016.

The quartet will lead the string sections of the orchestra, consisting of members from Uganda, Kenya and Tanzania, performing Beethoven’s fifth symphony and Verdi’s Requiem.

According to Diamond it is a humbling experience, an opportunity to extend their services and help establish the Dar Choral Society. “You are part of something really special, because the circumstances are remote if you compare it to what we have here.”

He means it is important to have a real African footprint and being involved there can later serve as a platform for UFS recruitment.

“You are part of something really special,
because the circumstances are remote if
you compare it to what we have here.”

South African and Austrian collaboration
According to Prof Van der Westhuizen Joubert it is an honour to play in Austria, as Europe is a centre for classical music. The OSQ will play concerts at the Alte Schmiede, Vienna, and the University of Salzburg.

The concert on 4 December 2016 at the University of Salzburg’s Mozarteum is a highlight because the UFS will have the opportunity to build relationships with the famous music school.

Prof Van der Westhuizen Joubert said it would be a South African/Austrian collaboration. “We will bring them South African works (Mokale Koapeng, AJ Feder, Arnold van Wyk and Peter-Louis van Dijk) and will be playing Austrian contemporary string quartets.”

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