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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

New publication on groundwater remediation soon to be introduced
2017-05-05

Description: Prof Abdon Atangana groundwater remediation Tags: Prof Abdon Atangana groundwater remediation

A new book from Prof Abdon Atangana from
the UFS Institute for Groundwater Studies
proposes new techniques for groundwater
remediation, including guidelines on how chemical
companies can be positioned in any city to avoid
groundwater pollution.
Photo: Pixabay

A new publication, Fractional Operators with Constant and Variable Order with Application to Geo-Hydrology, will be published later this year, on 1 November 2017. The author, Prof Abdon Atangana, from the Institute of Groundwater Studies at the University of the Free State, said the book proposes new techniques for groundwater remediation, including guidelines on how chemical companies can be positioned in any city to avoid groundwater pollution.

Focus of the book
Prof Atangana said researchers and practitioners interested in groundwater modelling and remediation from applied mathematical and geo-hydrology backgrounds, will benefit from reading this book.

According to Elsevier, the book provides a physical review of fractional operators, fractional variable order operators, and uncertain derivatives to groundwater flow and environmental remediation. It presents a formal set of mathematical equations for the description of groundwater flow and pollution problems using the concept of non-integer order derivative. Both advantages and disadvantages of models with fractional operators are discussed.

“Researchers and practitioners
interested in groundwater modelling
and remediation from applied
mathematician and geo-hydrology
backgrounds, will benefit from
reading this book.”

About the author
Prof Atangana specialises in applied mathematics, groundwater modelling, fractional calculus and their applications, methods for partial differential equations, methods for ordinary differential equations, iterations methods, asymptotic methods, perturbations methods, and numerical method for fractional differential equations, uncertainties analysis. He has participated in 18 international conferences, organised six special sections and symposiums in international conference in Europe, Africa, Asia and USA, and has been invited as plenary speaker in eight international conferences. He also serves as editor on 20 international journal of mathematics and applied mathematics and editor-in-chief of two international journals of applied mathematics.

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