||When Muhammad Yunus, founder of the Grameen Bank, won
the 2006 Nobel Peace Prize, a renewed evangelical wave of support
for micro credit swept the world.
In South Africa, the hype provided an opportunity to reassess the
way the government’s Accelerated and Shared Growth Initiative for
South Africa (AsgiSA) conceptualized financial market access.
AsgiSA unveiled the state’s commitment to the ‘two economies’ thesis
in several ways, but none was more explicit than the citation of
credit as a ladder between the two economies.