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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

#PeopleOfKovsies brimming with positivity
2016-12-26

Kovsies both young and old, whether they are currently studying or have already graduated, abound in positive energy. Striving to harness this positivity, the #PeopleOfKovsies campaign was born. Over the past three years, this campaign has garnered a collection of photographs and quotable quotes from visitors, staff, students, and alumni that showcases the feeling that only a Kovsie knows.

The process is simple: Staff photographers approach people on campus and ask whether they are willing to pose for a photo. How they do this is up to the individual’s favourite style: pouting, looking serious, pointing, or just smiling. Participants then also have the opportunity to share a brief message with the Kovsie community, whether it is just how they feel at that particular moment, what it means to them to be a Kovsie, or how they picture that indescribable Kovsie feeling. These photographs, along with their captions, are shared on our social media platforms, and, in some cases, used on campus billboards or in our publications.

Description: Retha Hill Tags: Retha Hill

“I loved being a Kovsie, because my fellow Kovsies were more than just friends   they were like
FAMILY.” - Retha Hill

Description: Keamogetswe Nnyane Tags: Keamogetswe Nnyane

“I get to enrich my community through the diversity and exposure I received as a Kovsie.
To help uplift those who can’t do the same for themselves.” - Keamogetswe Nnyane

Description: Byron Wegger Tags: Byron Wegger

“The gateway that opened my mind to different ideas as well as giving me opportunities
through sport and academics I never would have experienced anywhere else.” - Byron Wegger

Description: Tamie Mbombo_PeopleOfKovsies Tags: Tamie Mbombo

“They have succeeded in creating the conditions wherein students from disadvantaged
backgrounds can be brought to the starting line of a race that many are unaware is even
being run.”-  Tamie Mbombo

Description: Lerothodi Molete Tags: Lerothodi Molete

“It means being an agent of change. Also equipping me with skills and exposure to be the
change I want to see in the world.” - Lerothodi Molete

Description: Lebogang Kotsi Tags: Lebogang Kotsi

"To be a Kovsie means being in a multi-racial learning institution and striving to be a great
leader in the future." - Lebogang Kotsi




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