Financial Exclusion Archives - ROAPE
1653
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Financial Exclusion Tag

The public debate on South Africa’s ‘social grant saga’ portrays the case as a typical example of political corruption, personal incompetence and corporate greed. However, as Lena Gronbach argues, behind the headlines is an agenda developed by the World Bank in the early 2000s, which sees poverty as a problem of financial exclusion and restrictive financial markets, rather than the result of deeper structural issues and the lack of a regular and adequate income. This has been nothing short of a fundamental shift in development policy. By Lena Gronbach In 2012 South Africa’s Social Security Agency SASSA appointed Cash Paymaster Services (CPS), a private financial service provider, as the sole paymaster for the country’s extensive and rapidly expanding social grant programme. This move was designed to address concerns about payment efficiency, high levels of grant fraud, and the fragmented nature of the previous provincial grant payment system...