Remgro Responds To Thabi Leoka PhD Dispute, Clarifies Board Appointment Status

Remgro, an investment holding company, has issued a response to the recent reports surrounding former board member Thabi Leoka’s alleged false PhD qualification.

The controversy arose when Business Day published an article claiming that the economist had misrepresented her educational credentials by falsely claiming to hold a PhD from the London School of Economics. Leoka, in turn, denied these allegations during an interview on the Clement Manyathela Show.

In an official statement, Remgro clarified that Thabi Leoka had been appointed as an independent non-executive director of the company in 2023, with the condition that her appointment would be subject to shareholder approval at the annual general meeting (AGM).

[ Economist Thabi Leoka’s Qualifications And Remgro Board Exit Explained ]

However, the appointment was not ratified at the Remgro AGM on 4 December, as Leoka informed the board that she had decided not to stand for election due to personal reasons.

Remgro emphasized the importance of ethical and moral behavior and compliance within the company’s culture, stating, “Remgro’s values are central to the culture of ethical and moral behavior 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.”

Leoka, who holds a Master’s Degree from the London School of Economics, has claimed that her name does not appear among the PhD graduates because she changed her name at Home Affairs.

However, this explanation has raised questions regarding the vetting process for appointees to presidential advisory committees in light of the qualification scandal involving Leoka. The Presidency has stated that because the Economic Advisory Council is a non-statutory body, vetting of appointees is not required.

Nevertheless, political economist Daniel Silke has argued that considering the importance of the council’s work, due diligence should be exercised. Silke emphasized the need for fully qualified individuals who present themselves honestly when dealing with critical matters of state policy in South Africa.

Furthermore, Silke highlighted that the scandal involving Leoka demonstrates that this issue is not limited to either the public or private sector, stating, “It just shows you that both from the public and private sector point of view, no one is immune to the possibility of this kind of potentially underhanded practice.”

In response to the allegations made by Business Day, Leoka has pledged to provide evidence of her Ph.D. qualification from the London School of Economics in the legal papers she intends to file against the publication.

We can all see the need for integrity in professional qualifications. Companies and organizations must ensure rigorous processes for vetting and verifying the credentials of their board members and advisory committee appointees to maintain public trust and uphold ethical standards.