Remgro responds to Thabi Leoka PhD dispute, says board appointment wasn’t ratified
Thabi Leoka, who served as a board member for the investment holding company, has been accused of lying about having a PhD qualification from the London School of Economics.
FILE: Leoka denied any wrongdoing, saying that she would be considering taking legal action against Business Day. Picture: Supplied
JOHANNESBURG - Investment holding company Remgro has responded to reports about former board member Thabi Leoka's alleged false PhD qualification.
On Tuesday, Business Day reported that the economist allegedly lied about having a PhD from the London School of Economics.
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Leoka subsequently denied the accusation during an interview on the Clement Manyathela Show.
In a statement, Remgro said Leoka was appointed as an independent non-executive director of Remgro in 2023, subject to shareholder approval at an annual general meeting (AGM).
However, the appointment was not ratified at the Remgro AGM on 4 December, as she advised the board that she opted to no longer stand for election as an independent non-executive director of the company due to personal reasons.
"Remgro’s values are central to the culture of ethical and moral behaviour and compliance. To ensure that these values are upheld, the Board recognizes the need to ensure rigor in the process of electing and nominating members to the directorate," said the company's communiqué.
Leoka, who holds a Master's Degree from the institution, claims her name cannot be found among PhD graduates because she changed her name at Home Affairs.
Meanwhile, questions are being asked on the vetting of appointees to presidential advisory committees in light of the qualification scandal involving Leoka.
The Presidency said because its Economic Advisory Council is a non-statutory body, vetting of appointees is not required.
However, political economist Daniel Silke said considering the work done by the council, there ought to be due diligence.
“We are dealing with very important matters of the State, specifically when it comes to policy matters in South Africa, and this means those who participate really have to be fully qualified and should present themselves in honest terms.”
He also said Leoka’s scandal showed that this was not a public or private sector problem.
“It just shows you that both from the Sand private sector point of view, no one is immune to the possibility of this kind of potentially underhanded practice.”
Leoka promised to prove that she does hold a PhD from the London School of Economics in her legal papers, that she will file against Business Day.