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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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Message of appreciation from the UFS acting Vice-Chancellor and Rector: Prof Nicky Morgan
2017-01-04

Dear Colleagues, Students, Parents/Guardians, Alumni, and Friends of the university

The University of the Free State (UFS) successfully completed the 2016 academic year, with the official examination ending on 14 December 2016.  We have also completed the last of our graduation ceremonies, and are now preparing to accommodate the additional and ad hoc examinations in the coming weeks.
 
This comes after the university has successfully readjusted its academic programme in October 2016, subsequent to the disruption of activities and programmes for almost a month. All of this could not have happened without the extraordinary support and dedication of the staff and majority of the students at the UFS.
 
I would like to thank all our staff, parents/guardians, alumni, and friends of the UFS for the role they played during these challenging months in order to ensure that we could end the academic year successfully. If it was not for your understanding and uncompromising support, we would not have been able to complete the curricula, continue with the exams, and end the year in this way.
 
However, we all know that this was not an easy task. The sheer dedication and drive of our academic staff to adapt the mode of teaching and assessment of modules must be applauded, as it took courage and perseverance. Not only did they manage to complete the curricula, they also managed to do the assessment almost completely online. The incredible role of our administrative and support staff – including our security personnel – should also be acknowledged with deep appreciation.
 
This has been a learning experience for all, which has provided us with a solid base for academic recovery in the future.
 
During its quarterly meeting on 2 December 2016, the UFS Council expressed appreciation to all staff, students, and the university management for the successful completion of the 2016 academic year.
 
To all our alumni and donors who continued to support the UFS this year – thank you for your commitment, loyalty, and continued contribution.
 
Looking forward to 2017
The UFS announced on 7 December 2016 that it will be increasing tuition and housing and residence fees for 2017 by 8%. The approved increase in fees is in line with the recommendations by the Minister of Higher Education and Training, Dr Blade Nzimande, on 19 September 2016. The increases were approved by the UFS Council on 2 December 2016, with the understanding that it would be paid by the Department of Higher Education and Training by means of the fee adjustment grant for qualifying students with a combined family income of not more than R600 000 per annum.

The university management is aware of the economic realities in South Africa, as well as the financial pressure households are experiencing. The long-term financial sustainability of the UFS, as well as the financial constraints which impact teaching and learning, research, and community service, continues to remain of utmost importance to the Council and to the senior leadership of the UFS.
 
The university management stated its pro-poor approach to student funding on several occasions; that academically deserving students from poor and working class families should receive substantial financial support. For this reason – also because it does not place a burden on poor and working-class families – an increase in tuition fees aligned with the DHET proposal was submitted to Council for approval. The presidents of the Bloemfontein and Qwaqwa Campus Student Representative Councils were present and participated in the discussion on fees – also when Council approved the increase.
 
I am thankful to report that more applications for admission were received for 2017 (42 568) in comparison to 2016 (29 284), and we are excited to welcome first-year students to our campuses in January 2017. See 2017 calendar of events and information.
 
The necessary safety measures have been taken and contingency plans are in place when students return in 2017. The university management will continue to work with the South African Police Service to ensure stability on the campuses and the uninterrupted continuance of the Academic Project.
 
In conclusion, I would like to wish you a restful and safe Festive Season. Thank you once again for your crucial role in making the University of the Free State still one of the universities of choice in the country.
 
Best regards
 
Prof Nicky Morgan
Acting Vice-Chancellor and Rector
University of the Free State

 

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