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17 September 2021 | Story Lacea Loader | Photo Supplied
Mr David Noko, newly appointed Chairperson of the UFS Council.

During its third scheduled meeting for the year that took place virtually on 17 September 2021, the Council of the University of the Free State (UFS) appointed Mr David Noko as Chairperson for a term of four years, as from 1 October 2021.

Mr Noko, who was Deputy Chairperson of the Council, will take over the Chairpersonship from Dr Willem Louw, whose term will come to an end on 30 September 2021.
 
“On behalf of the Council, I congratulate Mr Noko and wish him all the best during his term of leading the Council of the UFS. With the skills and competence available in the Council, complemented by Prof Francis Petersen, Rector and Vice-Chancellor, and his team, he has access to a formidable group of individuals to support him in the execution of this very important role,” said Dr Louw during the meeting. 
 
“I am humbled and honoured for the opportunity and thank the Council for their confidence and trust in me. Since serving on the Council, I have become an ambassador of the University of the Free State, talking to many stakeholders about the institution and how much it should be supported. I am here to serve and look forward to doing so in a professional and dignified manner, together with everyone on the Council and with the leadership of the university,” said Mr Noko.
 
Mr Noko is well-known and respected internationally as a business leader. He has a National Higher Diploma in Mechanical Engineering from the Technikon Witwatersrand (now the University of Johannesburg), a Management Development Programme (MDP) Certificate from the University of the Witwatersrand, and a Postgraduate Diploma in Company Directorships from the Graduate Institute of Management and Technology. He also completed a master’s degree in Business Administration at the Heriot-Watt University and a Senior Executive Programme at the London Business School.
 
Before retiring from the corporate world in 2019, Mr Noko was the Executive Vice-President of AngloGold Ashanti, where he was responsible for the company’s global Sustainable Development and Government Relations portfolios. His career began at the General Electric Company (GEC) before moving to South African Breweries in 1987, and then to Pepsi-Cola International in 1994, where he gained extensive international exposure and global experience.
 
In 1999, Mr Noko was appointed as Chief Executive Officer (CEO) of Air Chefs (Pty) Ltd in South Africa, before joining De Beers in 2002. In 2006, he was appointed Managing Director and CEO of De Beers Consolidated Mines Limited (DBCM), and in 2010 he founded his own company, CelaCorp (Pty) Ltd. He also founded ESG Advisory (Pty) Ltd, a company providing advisory services to corporates relating to environment, social and governance matters, mostly focusing on mining companies.
 
He is a member of the Institute of Directors SA and served on the boards of Royal Bafokeng Platinum Limited, Harmony Gold (Deputy Chairman), AstraPak Ltd, and PlatiStone Holdings (Chairman). He is currently a board director of African Rainbow Minerals Ltd, Tongaat Hulett Ltd, and Aveng Moolmans (Pty) Ltd.

The Council also thanked Dr Louw for his service and for the impeccable leadership he displayed during the time he served.

News Archive

Deputy Governor of SA Reserve Bank inspires students
2016-08-19

Description: Deputy Governor of SA Reserve Bank  Tags: Deputy Governor of SA Reserve Bank

Dr Lyndon du Plessis, Head of Department of Public
Administration and Management, Francois Groepe,
Deputy Governor of the South African Reserve Bank,
Prof Philippe Burger, Head of the
Department of Economics and B.Com Hons student,
Mosoeu Mabote.

Photo: Siobhan Canavan

Students from the Faculty of Economic and Management Sciences had the opportunity to learn from the best in the field when the Deputy Governor of the South African Reserve Bank, Francois Groepe, presented a seminar on the changing roles of central banks.

According to Groepe, we are currently living in challenging times as central banks are called on to do more.

“Central banks have limits, and these limits are not always understood,” he said on 11 August 2016 in the Equitas Auditorium on the Bloemfontein Campus.

How central banks contribute to inflation

There are two main generally-expected roles from central banks: the obvious one of providing bank notes and coins, and the other, maintaining price stability.

According to Groepe, the aim of keeping prices stable is to ensure easier planning for the future, and to assist the poor.

“The poor are the ones more vulnerable to higher inflation because they hardly have enough to get by,” he said.

A negative impact on monetary policies could affect the economy negatively. This is as a result of higher inflation caused by the increase in food prices.

Furthermore, the 12% government debt renders a negative yield in the economy.

The stability of finances in South Africa


Financial stability is not an end in itself, but, like price stability, is generally regarded as an important precondition for sustainable economic growth, development, and employment creation.

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