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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

The King’s Singers: British double Grammy winners hosted by OSM
2017-01-24

 Description: The Kings Singers Tags: The Kings Singers

The King’s Singers regularly tour in Europe, North and
South America, Asia and Australasia. The group will be
performing in Bloemfontein on 14 February 2017.
Photo: Andy Staples

The King’s Singers, the acclaimed British a cappella vocal ensemble, are coming to Bloemfontein, hosted by the Odeion School of Music at the University of the Free State, for an unmissable performance.

Concertgoers from Bloemfontein and surrounding areas have the opportunity to experience this extraordinary vocal ensemble at the Dutch Reformed Church Universitas at a concert sponsored by the Arts Trust.

Named after King’s College in Cambridge, the group was formed in 1965, and for the past 48 years, their work, synonymous with the very best in vocal ensemble performance, appeals to a vast international audience.

The ensemble has performed for hundreds of thousands of people each season, and regularly tours Europe, North and South America, Asia and Australasia. Instantly recognisable for their immaculate intonation, vocal blend, diction and incisive timing, the King’s Singers are consummate entertainers.

The group’s repertoire has evolved to become one of the most diverse and compelling imaginable. They have commissioned more than 200 works, including landmark pieces from leading contemporary composers including Luciano Berio, György Ligeti, Sir James MacMillan, Krzysztof Penderecki, Toru Takemitsu, Sir John Tavener, Gabriela Lena Frank and Eric Whitacre. They have also commissioned arrangements of everything from jazz standards to pop chart hits, explored medieval motets and Renaissance madrigals, and encouraged young composers to write new scores.

In addition to performing to capacity audiences and creating highly regarded and much-loved recordings, the King’s Singers share their artistry at numerous workshops and masterclasses around the world.  

Double Grammy award-winning artists, the group were honoured in 2009 for their Signum Classics release, Simple Gifts, and again in 2012 for their contribution to Eric Whitacre’s Light and Gold album. Recently voted into Gramophone Hall of Fame, rave reviews and repeated sell-out concerts confirm that the King’s Singers are one of the world’s finest vocal ensembles.

Watch videos of the The King’s Singers:
The King's Singers - Overture The Barber Of Seville
2016 Pioneer Day Concert with The King's Singers - Primary Medley
A Christmas Songbook by The King's Singers

Date: 14 February 2017
Time: 19:30
Place: Dutch Reformed Church Universitas, Bloemfontein
Cost: R295 per person | R268 per person for group bookings of 10+

Tickets for the concert are available at Computicket outlets (Checkers, Shoprite shops), at the door, or online.

For inquiries or more information, contact Ninette Pretorius at +27 51 401 2504.

 

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