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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

Suspect in theft of computer equipment arrested
2007-11-16

A suspect, who may be involved in the recent theft of computer equipment from buildings on the Bloemfontein campus of the University of the Free State (UFS), has been arrested.

On 13 November 2007 an alarm in the Agriculture Building on the Main Campus of the UFS was activated. Protection Services reacted to the alarm and the person, who tried to run away, was pursued and later arrested.

The suspect was handed to the South African Police Service (SAPS). Currently SAPS is conducting an intensive investigation in co-operation with Protection Services at the UFS.

“The extent of the investigation goes beyond this single case for which the captive was arrested,” said Mr Willie Frankim, Manager: Protection Services at the UFS.

Meanwhile, the UFS’s Safety Committee has decided on a number of measures to heighten security on campus, including:

  • Patrols between buildings are to be intensified.
  • Vehicles leaving the campus will be searched. This is being done on an ad hoc basis at all the gates.

According to Mr Frankim the university is also looking at extending the alarm system and measures to secure buildings on campus.
He said: “The above will not happen overnight. We request all staff members and students to give their co-operation and to be more security conscious by:

  • Giving their co-operation at the gates when their vehicle is searched,
  • To ensure that the windows of your office and building are closed,
  • To lock office doors when you leave the office, even if it is for a short while,
  • Not to leave your office unattended when there are strangers,
  • to report suspicious persons as soon as possible to Protection Services,
  • To ensure that valuable articles (laptops and cell phones) are locked away,
  • To ensure the safekeeping of keys (not in drawers or on top of a door frame), and
  • Determine who has access to a building and question anybody unknown.”

Contact Protection Services at any of the following numbers:

Duty room: O51-4012634 / 051-4012911

Mr Aggrey Litseho (investigation officer): 051-4013225 / 0836347919 /
Short cell phone x6060

Mr Willie Frankim (manager): 051 401 3438 / 0828831760/
Short cell phone x6000

“We can only combat crime if everybody is aware of their environment, everybody adheres to the basic rules and co-operates with Protection Services,” said Mr Frankim.

Media Release
Issued by: Lacea Loader
Assistant Director: Media Liaison
Tel: 051 401 2584
Cell: 083 645 2454
E-mail: loaderl.stg@ufs.ac.za  
15 November 2007
 

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