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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

Oxford professor unlocks secrets of DNA
2017-03-31

Description: Oxford professor unlocks secrets of DNA Tags: Oxford professor unlocks secrets of DNA

From left are: Dr Cristian Capelli, Associate Professor
of Human Evolution at Oxford University;
Dr Karen Ehlers, Senior Lecturer and Prof Paul Grobler,
both from the Department of Genetics at the UFS.
Photo: Siobhan Canavan

Many people are interested to know more about their history and origins, and with the help of genetics, it is possible to provide more information about one’s roots.

During a lecture at the Department of Genetics at the University of the Free State (UFS), Dr Cristian Capelli, Associate Professor of Human Evolution at Oxford University in the UK, addressed staff members and students on the history of our species.

Reconstructing the history of human population
With his research, titled: People on the move: population structure and gene-flow in Southern Africa, Dr Capelli looks at reconstructing the history of human populations, focusing mainly on how the different human populations are related, as well as how they exchange genes.

He said this research could be of great significance to the medical field too. “Knowing what the genetic make-up of individuals is, can give us some information about their susceptibility to diseases, or how they would react to a given medicine. Therefore, this knowledge can be used to inform health-related policies.”

Combining individual histories of multiple people
To understand this research more clearly, Dr Capelli explained it in terms of DNA and how every individual receives half of their DNA from their mother and half from their father just as their parents had received theirs from their parents. And so it goes from generation after generation. Each individual stores a part of their ancestors’ DNA which makes up the individual genetic history of each person.

“If we combine these individual histories by looking at the DNA of multiple people, we can identify the occurrences that are shared across individuals and therefore reconstruct the history of a population, and in the same way on a larger scale, the history of our own species, homo sapiens.

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