These include poor regulatory supervision and bad enforcement of the proper corporate governance measures, credit risk management and bank fraud strategies, as well as the poor assimilation of appropriate contemporary technology.
His thesis included a comparative analysis of the regulatory and supervisory strategies in other countries such as South Africa, Canada and the United Kingdom, especially during the Covid-19 pandemic.
"Therefore, I proposed a novel model for the robust regulation and supervision of banking institutions in Zimbabwe to curb the failures that have been experienced historically," said Menelisi.
"This included a shift to the 'comply or else' approach instead of the 'comply or explain' approach in regulating corporate governance measures for banking institutions in Zimbabwe."
It is hoped that Menelisi's findings will come to the attention of Zimbabwean policymakers so that the regulatory loopholes can be closed. |