Журнал гражданских и юридических наук

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Hubris and the Financial Sector: Making a Possible Case for Ubuntu

Herbert Kawadza

Global financial sector scandals have presented an opportunity for an examination of what is going wrong in the industry. Regulators have responded through structural and legislative changes that are aimed at arresting the highly criticised corporate culture. This article argues that while such measures are commendable, they are nevertheless inadequate as they do not address the root-cause of the problem. To that end it suggests experimenting with the norms of ubuntu. It contends that the ethos of ubuntu would arguably engender a new corporate governance regime which would address those human tendencies that are at the core of the maligned financial sector conduct.