Banking Supervision and Financial Soundness in Developing Countries: Insights on South Sudan (Published)
The commercial banking industry in South Sudan has faced a myriad of challenges in playing its’ central role of supporting economic development. Several critical medium-term and long-term difficulties have faced the banking sector in South Sudan as it seeks to come up with a productive regulatory environment. Due to the nascent development of regulatory mechanisms post attaining independence the banking industry has mainly focussed on traditional services. This has resulted in most commercial banks facing financial soundness and sustainability challenges due to limited product and service diversification. The aim of this paper was to identify the challenges facing banking supervision in developing economies and provide insights on what can be done to foster financial soundness in the commercial banks. The paper indicated that poor legislation, inadequate technical support, lack of structural reforms, political challenges and poor regulatory framework have limited the development and financial stability within the country. Critical to improving the financial soundness of the banks is introduction of regulatory activities that can foster the monitoring and supervision of commercial banks in the country. Further, incentivizing financial industry players will lead to long-term value creation through strengthening the financial system and improving integration. The study also advocates for strict introduction of enforcement mechanisms that will ensure commercial banks adhere to the stipulated regulations and guidelines in the operations. Finally, advocating for strategic changes in the services offering and improving cross-border trading will be key to enhancing the commercial banks soundness.
The Role Of Regional Economic Communities in Conflict Resolution in Africa: The Case of Igad’s Peace Process in South Sudan (Published)
Nowadays, most Regional Economic Communities (RECs) in Africa are playing a crucial role in maintaining peace and security in Africa through resolving conflicts in a democratic and civilized way. Being one of the major building blocks recognized by African Union, IGAD is striving for sustaining peace and security throughout its turbulent and conflict raging operational area. In view of that, the objective of this paper is thus to assess the role of RECs in resolving conflicts in the case of IGAD’s peace process in South Sudan. To meet the objective of the study, secondary sources of data were utilized. After gathering the necessary data, qualitative methods of data analysis were employed to discuss, analyze and drawing inferences. Accordingly, the results of the study show that IGAD and its extension IGAD-PLUS had lightened some hopes in opening up ways for negotiation of the warring parties. Meanwhile, the peace process is heavily challenged by factors such as the strong need of the Uganda’s troop to stay in South Sudan, the deep division and rivalry among the regional powers, the reluctance of the warring parties and the poor institutionalization of IGAD. Hence, primarily, IGAD should use any means possible to withdraw the Uganda’s military force from the country. Without withdrawing this unrecognized and unacceptable military intervention, peace is unthinkable in South Sudan. Moreover, imposing sanctions in addition to the mediation process is a viable solution to stop the violation of the ceasefire accords by the parties in conflict.
South Sudan is in deep trouble despite the armistice signed on 9 May 2014. What promised to be a peaceful independent state suddenly descended into chaos and bloodshed. The key goal of this paper is to highlight how the struggle for power in Africa’s newest state casts darkness on the future of the nation and the continent at large. Despite competition for power being the crux of the matter, the conflict was aggravated by the fact that it contained ethnic overtones, an aspect dominant in the whole economic spectrum of the country
This paper examines critically the implication of wide scale adoption of sharia in a multi religious and pluralistic Nigeria. Specifically, it studies the effect of the legal system on the national integration and unity which paradoxically constitutes mantra in the mouth of almost every Nigerian national. It is discovered that the entrenchment of the criminal and non-personal aspects of Islamic law by the core northern states had become a counter-point on the corporate existence of Nigeria. This is more so as the country’s Constitution had restricted the application of sharia to its personal regime. The Boko Haram menace that ravages the country and its environs may not be unconnected with the much dreamt of islamization of the whole sovereign enclave. Yet, it is further noted that the huge population of southern Christians that virtually constitute half of the nation’s population cannot be cowed into the proselytist agenda. This development is a threat to national unity. A comparative analysis of the socio-legal phenomenon in relation to Sudan before the emergence of South Sudan was a task before the writer, especially as the Muslim/Christian ratio in the pre-divided Sudan resembles that in Nigeria. More still, the comparison is ad rem as the north-south religious divide in both jurisdictions is almost coterminous. This study recommends national dialogue, religious toleration, patriotic spirit, avoidance of fanaticism, inter alia, as antidote to disintegration.