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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

Sesotho dictionary to be published
2008-04-15

 
Mr Motsamai Motsapi,  editor-in-chief.

A comprehensive bilingual Sesotho dictionary will be published in the 2008/2009 financial year, thanks to the efforts of the Sesiu sa Sesotho National Lexicography Unit hosted by the University of the Free State (UFS). ”Sesiu” is a Sesotho word meaning ”a reservoir for storing grains”.

According to the Editor-in-Chief of the Sesiu sa Sesotho National Lexicography Unit, Mr Motsamai Motsapi, the unit intends to continuously develop and modernize the Sesotho language so that its speakers are empowered to express themselves through Sesotho without any impediments, in all spheres of life.

The unit is one of the 11 nationally established Pan South African Language Board (PanSALB) structures representing South Africa’s 11 official languages.

Their main objective is to preserve and record the various indigenous languages by compiling user-friendly, comprehensive monolingual dictionaries and other lexicographic products, and to develop and promote these languages in all spheres of life.

The Minister of Arts and Culture, Dr Pallo Jordan, has lamented the fact that it is virtually impossible to find a bookstore in any of the country’s shopping malls that distributes literature in the indigenous African languages.

The minister said the capacity to both write and read in one’s home language gives real meaning to freedom of expression.

Therefore the publication of this Sesotho dictionary should be seen in the context of the development of the indigenous languages, as encapsulated in both the minister’s vision and that of the Sesiu sa Sesotho National Lexicography Unit.

The pending publication of this dictionary is the culmination of years of hard work invested in this project by the Sesiu sa Sesotho National Lexicography Unit.

“I believe that slowly but surely we have made some strides, as we have produced a Sesotho translation dictionary draft in 2006 covering letters A to Z. We have also built a considerable Sesotho corpus. But we still have a mammoth task ahead of us, because the work of compiling a dictionary does not end”, said Mr Motsapi.

“All Sesotho speakers should be involved, as the language belongs to the speech communities, and not to certain individuals”, he added.

He said given the reality that the UFS is situated in a predominantly Sesotho-speaking province and is part of its general community, it will always benefit the university to be part of the efforts of the South African nation to address the past by ensuring the development of the Sesotho language.

The unit is located in the African Languages Department of the Faculty of the Humanities at the UFS, and collaborates closely with the Language Research and Development Centre (LRDC) at the UFS to further the development of the Sesotho language. It is funded by PanSALB.

Media Release
Issued by: Mangaliso Radebe
Assistant Director: Media Liaison
Tel: 051 401 2828
Cell: 078 460 3320
E-mail: radebemt.stg@ufs.ac.za  
15 April 2008
 

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