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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

National 3MT competition held at UFS
2017-03-29

Description: 3MT 2017 Tags: 3MT 2017

The two winners of the Three minute thesis
competition, Andrew Verrijdt (left) and
Kerryn Warren (right).
Photo: Charl Devenish


From Neanderthal hybrid children to eating corn silk as a way of managing kidney diseases, the National Three Minute Thesis competition (3MT) captivated the mind.

“We brought the competition to South Africa and hosted the local, regional, and national competitions for the past few years,” said Dr Emmie Smit, organiser of the event. It is an opportunity to raise the profile of postgraduate research and to develop a cross-disciplinary student community to effectively communicate research to a wide audience. The event was founded by the University of Queensland, Australia. The third national 3MT competition took place at the University of the Free State (UFS) on Friday 24 March 2017.

Three minutes and one slide
During the competition, participants had three minutes to explain their master’s or doctoral research and one static PowerPoint slide could be used. “It is very important that this slide works for you. There must be some way the information on the slide connects to what you present,” said Dr Henriette van den Berg, Director of the Postgraduate School at the UFS.
 
Winners grateful for opportunity
“It is an honour and a drive. It is very nice to have this sort of thumbs up,” said Kerryn Warren, winner of the Science category. Her research title was, What did a Human-Neanderthal Child Look Like? “I have been looking at the hybrids between different species and subspecies of mice in order to use them as a model to find out what human hybrids looked like.”

The presentation by Andrew Verrijdt, winner of the Humanities category, entitled Hiding in the Deep: Anonymous Websites for Paedophiles on the ‘Darknet’, gave a glimpse into the mysterious and dangerous realm of the dark web. “I am grateful for the opportunity. Primarily because I think it’s an important topic, and society will benefit by getting the word out there as it is a sensitive topic,” he said. The two winners, both from the University of the Cape Town, won R15 000 each.  A further R30 000 of prize money went to the four runners-up.

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