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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

Chemistry postgraduates tackle crystallography with eminent international researcher
2017-04-04

Description: Dr Alice Brink  Tags: Dr Alice Brink

Department of Chemistry senior lecturer, Dr Alice Brink(left),
hosted outstanding researcher, Prof Elspeth Garman (right)
from the University of Oxford in England to present a
crystallography lecture.
Photo: Rulanzen Martin



“Crystallography forms part of everyday life.” This is according to Prof Elspeth Garman, eminent researcher from the Department of Biochemistry, University of Oxford in England, who was hosted by Dr Alice Brink, Department of Chemistry at the University of the Free State (UFS) Bloemfontein Campus. Prof Garman presented a lecture in the Department of Chemistry, titled ‘104 years of crystallography: What has it taught us and where will it lead’. She also taught the postgraduate students how to refine and mount protein structures in cold cryo conditions at about -173°C.

What is Crystallography?
Crystallography is the scientific technique which allows for the position of atoms to be determined in any matter which is crystalline.
 
“You cannot complete Protein Crystallography without the five key steps, namely obtaining a pure protein, growing the crystal, collecting the data, and finally determining the structure and atomic coordinates,” said Prof Garman. Apart from teaching, she was also here to mentor and have discussions with UFS Prestige Scholars on how to face academic challenges in the professional environment.

Discovery of the first crystal structure of a TB protein

Prof Garman successfully determined the first crystal structure of a Tuberculosis protein (TBNAT), a project that took about 15 years of research. In partnership with the Department of Pharmacology at Oxford University and an outstanding PhD student, Areej Abuhammad, they managed to grow only one TBNAT crystal, one-fiftieth of a millimetre. They also managed to solve the structure and publish it.

Dr Alice Brink, Senior Lecturer in the Department of Chemistry, says, “It’s an incredible privilege to have Prof Garman here and to have her share her wisdom and knowledge so freely with the young academics.”

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