This qualitative study examines the protracted implementation of South Sudan's 2018 Revitalised Agreement on the Resolution of the Conflict in the Republic of South Sudan (R-ARCSS). It argues that the formal peace process has been consistently subverted by a political economy of conflict, where elite bargaining prioritises power-sharing and resource allocation over transformative change. The analysis draws on document analysis and key informant interviews to trace how these elite-centric dynamics generate localised resistance and public disillusionment. The findings reveal a critical disconnect between national-level negotiations and grassroots security and justice imperatives, undermining the agreement's legitimacy and sustainability. The study concludes that without addressing this implementation gap and the underlying political marketplace, South Sudan's peace will remain fragile and contingent.