Latest News Archive

Please select Category, Year, and then Month to display items
Previous Archive
23 February 2025 | Story André Damons | Photo Supplied
UFS Main Building
The University of the Free State in partnership with the Department of Science, Technology and Innovation (DSTI), will form the backdrop for the G20 Research and Innovation Working Group (RIWG) and G20 Initiative on Biochemistry (GIB) meetings in February.

The University of the Free State (UFS) will form the backdrop for the G20 Research and Innovation Working Group (RIWG) and G20 Initiative on Bioeconomy (GIB) meetings on 23 and 24 February 2024.

UFS has, over the years, distinguished itself as a leader in the research and development, particularly in the biodiversity space through its African Medicines, Innovations and Technologies Development (AMITD) platform, which was established in collaboration with the Department of Science, Technology and Innovation (DSTI) and its entity, the Technology Innovation Agency.  It was therefore an obvious choice for the institution to again partner with the DSTI to host the G20 meetings.

The G20 is an international forum comprising many of the world's largest developing and developed economies, established to tackle pressing global economic and financial issues.

South Africa holds the G20 Presidency this year – only five years before the UN's 2030 Agenda for Sustainable Development deadline.  This is the first time the G20 is being hosted on African soil.

South Africa's presidency takes place when the world is facing a series of overlapping and mutually reinforcing crises, including climate change, underdevelopment, inequality, poverty, hunger, unemployment, technological changes, and geopolitical instability.

The G20 RIWG provides a platform for addressing global challenges through research, technology and innovation.  The DSTI will lead the RIWG under the leadership of Minister Blade Nzimande and explore this year's theme, "Equity in science and innovation-based approaches to sustainable development".

Prof Nzimande, along with Prof Hester Klopper, Vice-Chancellor and Principal of UFS, will both deliver opening remarks at the meeting.

The session on 23 February will be the first to include G20 officials engaging with indigenous knowledge holders, students and researchers in the bioeconomy.

Prof Motlalepula Matsabisa, Director of the Department of Pharmacology and AMITD at UFS, says the university was an excellent choice to host the sessions because of its trusted relationships with indigenous communities and focus on inclusive research and development.

The G20 dialogues aim to be inclusive and provide a space for members of the public to voice their aspirations and to capture their needs around the indigenous knowledge and biodiversity in which they play an integral role.

"I am honoured to be part of this global event.  I am so happy that AMITD is now globally recognised.  We will exhibit our research conducted with communities on the internationalisation of South African science research in traditional medicines and biodiversity, and its formal commercialisation," said Prof Matsabisa.

"We are the leader in traditional medicines research and development.

"South Africa always leads in global debates and sets the stage for African views to be heard.  We will contribute to policies on global biodiversity and bioeconomy and commercialisation of our natural resources through equity, sustainability and solidarity.

Prof Matsabisa believes this event will also highlight the goals of the DSTI's 2019 White Paper on Science, Technology and Innovation and the implementation of its 2022-2032 Decadal Plan.

He hopes to see tangible and meaningful outcomes from the G20 discussions that will be implemented by the USA when it takes over the G20 Presidency for 2026.

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.

We use cookies to make interactions with our websites and services easy and meaningful. To better understand how they are used, read more about the UFS cookie policy. By continuing to use this site you are giving us your consent to do this.

Accept