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18 May 2020 | Story Dr Marinkie Madiope | Photo Sonia Small (Kaleidoscope Studios)
Dr Marinkie Madiope.

In IsiZulu, there is a saying that goes, ‘indlela inbuzwa kwa ba phambili’, which can be loosely translated into, ‘direction is asked for, from those who’ve walked the path’. According to the illustrious Credo Mutwa, in his seminal masterpiece, Indaba my Children, 

“these are the stories that old men and old women tell to boys and girls seated with open mouths around the spark-wreathed fires in the centres of the villages in the dark forests and on the aloe-scented plains of Africa. Under the gaze of the laughing stars the Old One sits, his kaross wrapped around his age-blasted shoulders, staring with rheumy eyes at the semi-circle of eager expectant faces before him – faces of those who have taken but a few steps along the dark and uncertain footpath called Life – faces of the ones yet oblivious to the pain of life’s bitter scourges – faces yet unmarked by furrows of bitterness, ill-health and anger – the fresh, pure, open faces of…children. The fire dances in the middle of the round clay fireplace like a virgin revelling in the simple joy of being alive. It devours the dry twigs and logs that a little girl is constantly feeding it, leaving nothing but glowing ashes. It mocks the silent sky with a redly luminous column of smoke against its starry face and by sending up short-lived stars of its own”|

As the birthplace of humankind, the motherland, homeland, and ancestral origin of everyone on the planet, Africa is a blessed, special, and beautiful continent. It is an expansive abode of rich diversity, striking complexities and ornate nuances and peculiarities, both in its people and in its biomes.

With approximately 2 100 languages spoken by more than 3 000 ethnic groups in our population of just over 1,3 billion individuals spread across 55 countries, Africa is culturally, philosophically, and linguistically a very wealthy land.
Our shared, priceless heritage is littered with shining examples of the excellence, resilience, ingenuity, fortitude of character, strength, spirit, and love of our people. We have adapted to desertification, unshackled ourselves from slavery, replenished ourselves from years of famine, battled deadly viral diseases, nursed ourselves out of internecine conflicts, liberated ourselves from colonial oppression, and together, through it all, held fast the inherited role we collectively hold as custodians of humanity.

As Enock Maregesi spiritedly states:
“We are the children of Nelson Mandela; we are the children of Kwame Nkrumah; we are the children of Haile Selassie; we are the children of Samora Machel; we are the children of Robert Mugabe; we are the children of Patrice Lumumba; we are the children of Julius Kambarage Nyerere. We know who we are!”

And in this reverent knowledge of who we are, where we come from and what we have experienced to bring us to this present day where we celebrate our languages, our customs, our traditions, our ethnicities, our similarities and differences, our uniqueness, our Africa, and by virtue of that, our Africanness, we not only remember, but resonate with the heart-stirring words of Dr Kwame Nkrumah, “I am not African because I was born in Africa, but because Africa was born in me!”

We are grateful for the providence with which our continent has been virtuously spared from the unprecedented eventualities that have become synonymous with the leap year of 2020. The onset of the global lockdowns following the declaration of COVID-19 as a pandemic, averted a situation that could have escalated into a third world war; decreased the worldwide carbon emissions and pollution drastically; and served as a clarion call to unite humanity in the common goal of the preservation of human life. In spite of the hardships that came with re-adjusting our focus back to self-sufficiency, self-preservation through social distancing, and redefining what we term as essential, all of humankind has joined in remembering. Remembering how to do for self, remembering to care for those in need, remembering to cherish and respect the planet, and most importantly, remembering their African ancestry.

As we dutifully charter forth through the eternal passage of time, continuously evolving in conscious intelligence, consistently preserving human existence and steadily riding the throes of modernisation by globalisation, we invite all of humankind to take heed of our guidance, and ask for direction from those who have walked the path before. Let us illuminate the way forward for our planet by using the knowledge and ways that have been laboriously and painstakingly preserved for us by our forebearers though centuries of oppression, apartheid, discrimination, and derogation. 

We overcome. We inspire. We rise. We adapt. We thrive. It is our legacy to steer humankind back home, back to basics, back to mother earth. The historic events that have marked the first half of 2020 have highlighted to the world the inescapable importance of the cardinal African values of Ubuntu and a sustainable co-existence with nature. 

No, we are not African because we are born in Africa, we are Africans because Africa is born within us. Let us construct for the world a new model of being, a model of old, a model of nature, a model of our African nature.

On this Africa Day, go forth African child, and remember your sacred duty. Live your glorious destiny. Show the way for the rest of humanity. Mayibue!!!

Dr Marinkie Madiope is the Principal of the South Campus of the University of the Free State.

News Archive

Inaugural lecture: Prof. Phillipe Burger
2007-11-26

 

Attending the lecture were, from the left: Prof. Tienie Crous (Dean of the Faculty of Economic and Management Sciences at the UFS), Prof. Phillipe Burger (Departmental Chairperson of the Department of Economics at the UFS), and Prof. Frederick Fourie (Rector and Vice-Chancellor of the UFS).
Photo: Stephen Collet

 
A summary of an inaugural lecture presented by Prof. Phillipe Burger on the topic: “The ups and downs of the South African Economy: Rough seas or smooth sailing?”

South African business cycle shows reduction in volatility

Better monetary policy and improvements in the financial sector that place less liquidity constraints on individuals is one of the main reasons for the reduction in the volatility of the South African economy. The improvement in access to the financial sector also enables individuals to manage their debt better.

These are some of the findings in an analysis on the volatility of the South African business cycle done by Prof. Philippe Burger, Departmental Chairperson of the University of the Free State’s (UFS) Department of Economics.

Prof. Burger delivered his inaugural lecture last night (22 November 2007) on the Main Campus in Bloemfontein on the topic “The ups and downs of the South African Economy: Rough seas or smooth sailing?”

In his lecture, Prof. Burger emphasised a few key aspects of the South African business cycle and indicated how it changed during the periods 1960-1976, 1976-1994 en 1994-2006.

With the Gross Domestic Product (GDP) as an indicator of the business cycle, the analysis identified the variables that showed the highest correlation with the GDP. During the periods 1976-1994 and 1994-2006, these included durable consumption, manufacturing investment, private sector investment, as well as investment in machinery and non-residential buildings. Other variables that also show a high correlation with the GDP are imports, non-durable consumption, investment in the financial services sector, investment by general government, as well as investment in residential buildings.

Prof. Burger’s analysis also shows that changes in durable consumption, investment in the manufacturing sector, investment in the private sector, as well as investment in non-residential buildings preceded changes in the GDP. If changes in a variable such as durable consumption precede changes in the GDP, it is an indication that durable consumption is one of the drivers of the business cycle. The up or down swing of durable consumption may, in other words, just as well contribute to an up or down swing in the business cycle.

A surprising finding of the analysis is the particularly strong role durable consumption has played in the business cycle since 1994. This finding is especially surprising due to the fact that durable consumption only constitutes about 12% of the total household consumption.

A further surprising finding is the particularly small role exports have been playing since 1960 as a driver of the business cycle. In South Africa it is still generally accepted that exports are one of the most important drivers of the business cycle. It is generally accepted that, should the business cycles of South Africa’s most important trade partners show an upward phase; these partners will purchase more from South Africa. This increase in exports will contribute to the South African economy moving upward. Prof. Burger’s analyses shows, however, that exports have generally never fulfil this role.

Over and above the identification of the drivers of the South African business cycle, Prof. Burger’s analysis also investigated the volatility of the business cycle.

When the periods 1976-1994 and 1994-2006 are compared, the analysis shows that the volatility of the business cycle has reduced since 1994 with more than half. The reduction in volatility can be traced to the reduction in the volatility of household consumption (especially durables and services), as well as a reduction in the volatility of investment in machinery, non-residential buildings and transport equipment. The last three coincide with the general reduction in the volatility of investment in the manufacturing sector. Investment in sectors such as electricity and transport (not to be confused with investment in transport equipment by various sectors) which are strongly dominated by the government, did not contribute to the decrease in volatility.

In his analysis, Prof. Burger supplies reasons for the reduction in volatility. One of the explanations is the reduction in the shocks affecting the economy – especially in the South African context. Another explanation is the application of an improved monetary policy by the South African Reserve Bank since the mid 1990’s. A third explanation is the better access to liquidity and credit since the mid 1990’s, which enables the better management of household finance and the absorption of financial shocks.

A further reason which contributed to the reduction in volatility in countries such as the United States of America’s business cycle is better inventory management. While the volatility of inventory in South Africa has also reduced there is, according to Prof. Burger, little proof that better inventory management contributed to the reduction in volatility of the GDP.

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