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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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Dean of Law appointed for second term as acting judge in the Free State High Court
2017-02-17

Description: Prof Nicholson  Tags: Prof Nicholson

Prof Caroline Nicholson, Dean of the Faculty of Law

The Dean of the Faculty of Law, Prof Caroline Nicholson, has been re-appointed by the Judge President of the Free State High Court, Judge Mahube Molemela, to serve a full term in 2017 as an acting judge. This will be her second term, as she served in the same position in early 2016, and it is such, a testament to her outstanding work. Her re-appointment is a source of pride not only to the University of the Free State, but the city of Bloemfontein, and the region as a whole.

Since taking up the position of Dean in 2015, Prof Nicholson has demonstrated exceptional leadership, and continues to take great strides in developing the Faculty’s internal and external programmes. “I am delighted that the University has facilitated my taking advantage of this opportunity. During this term, I will be exposed to a diversity of legal matters both civil and criminal, some of which I was not exposed to during my previous acting period. The exposure to the practical aspects of the law from the perspective of the Bench will inform my decisions regarding curriculum review and development, at a time when the faculty is actively engaged in ensuring that curriculum content is both relevant and context-appropriate,” said Prof Nicholson.

She adds that her appointment as acting judge will strengthen the Faculty’s positive relationship with the legal profession and, especially with the Bench. It will also benefit the Faculty, its staff and students.  In 2015, the Faculty partnered with the International Association of Women Judges (Free State Chapter), to host a dinner, which will be hosted again this month. The association brought to the fore new ventures into the involvement of women judges in an advisory capacity and sharing of expertise. In 2016, members of the association began to enact this role.

Judge Molemela and Judge Azhar Cachalia of the Supreme Court of Appeal accepted appointments to the Advisory Board of the Free State Centre for Human Rights. Judge Khalipi “Jake” Moloi of the Free State High Court in Bloemfontein, gave trial advocacy tips to teachers, coaching the Schools Moot Court Competition. Prof Nicholson said: “It is hoped that more opportunities will arise to increase interaction between students and the judiciary, both are eager for this to happen. I am also learning a great deal and am once again enjoying the collegial and supportive environment that my colleagues create at the High Court.”

Prof Nicholson holds an LLD from University of South Africa, and has published several research articles in accredited journals, with a special interest in Family Law and children’s rights.

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