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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

Top achievers arrive at UFS
2017-01-26

Description: Tshepo Thajane Tags: Tshepo Thajane

Tshepo Thajane, winner of the Kovsies
Star of Stars competition.
Photo: Eugene Seegers

Although first-year registration officially started on 23 January 2017 at the University of the Free State (UFS), the Marketing department invited some of the top-achieving matrics in the country to an event on Friday 20 January to assist them with early registration. These high-flying pupils have AP scores of 40 and above, and worked hard to get to where they are today, with driving ambition for their future.

The #StarOfStars
Tshepo ”Doctor” Thajane is the winner of the newly-established Kovsies Star of Stars competition, and as such received a full bursary from the UFS, among other sponsorships. He has enrolled in Actuarial Sciences and will be housed at the Karee residence. When asked what drew him to our university, he responds: “I just loved the university before I entered it, and I chose the UFS because of the respect I was shown.”

Friendly reception
Lendl Ontong will be pursuing his LLB in the Faculty of Law, and has obtained a place in the brotherhood of the Karee residence. The Ontong family hails from Worcester in the Western Cape. Lendl’s father, Mr Lionel Ontong, had this to say of his experience: “The staff at the UFS, especially at the admissions office, is the friendliest group of people I’ve ever come across, and helpful as well. My wife was sceptical when I told her about the friendly treatment I experienced when I phoned the university, but when she witnessed it today, she could see it first-hand. The friendliness is contagious, and even though I’m tired after the long journey, their attitude has rubbed off on me. And my wife now has the assurance that her child is going to be happy here. The atmosphere is one of homeliness. It’s fantastic! Even the netball coach introduced herself to my son and invited him to pop in for a cup of tea, and she won’t even be involved with his university journey. It meant a lot to us as parents.”

Description: Jani Gerber  Tags: Jani Gerber

Jani Gerber and her dad Jaco Gerber.
Photo: Eugene Seegers

Runs in the family

Jani Gerber is a second-generation Kovsie who hails from Port Elizabeth. She won the cultural division in the Matriculant of the Year competition in 2016 and was invited to join the UFS. According to her, she “didn’t even consider another university”.

Her dad, Mr Jaco Gerber, says: “The whole process of application and registration was very efficient and professional. Jani’s older sister, Anri, completed her MBChB at UFS last year and is currently working at the Pelonomi Regional Hospital. Jani has already been adopted by new friends in her residence. She says, “Some charming students welcomed us at the residence, and even helped out when we were unpacking.” Jani has aspirations to sing in the annual Stagedoor and Serenade Singoff competitions.

We welcome all our first-years and look forward to supporting them throughout their university journey!

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