Economist Thabi Leoka comes under fire after reports questioned her qualifications
Economist Thabi Leoka has come under fire after her qualifications have been called into question.
Leoka was accused of faking her PhD degree which she purportedly attained from the London School of Economics (LSE). Leoka, who served as economic advisor to President Cyril Ramaphosa, is said to have only a Master’s degree.
Independent Media repored that the economist has denied she falsified her doctoral qualifications after an expose by a business publication which claimed it was one of the reasons she had been axed from the board of Remgro, a company owned by billionaire Johann Rupert.
Leoka has indicated that she will be taking legal action against “Business Day” for publishing the claims on Tuesday. She said she left Remgro for health-related reasons.
In Leoka’s defence, Msibi pointed out that even the founder of Remgro, Johann Rupert, was a university drop-out. A qualification beyond the first two degrees added little to one’s capabilities, he added.
Professor Parmi Natesan, CEO of the Institute of Directors in South Africa said that the director in question has reportedly indicated that her qualification is legitimate, and that the confusion arises from the fact that she changed her name at some point. Whatever the case, questions around the validity of directors’ qualifications should not come up after appointment.
Natesan said, “Performing due diligence on any appointment in any organisation, and especially senior appointments, is basic good governance. Given the huge responsibility that directors carry, and their importance to the organisation, they of all people need to be thoroughly vetted before appointment,” she says.
She further stated that research by the IoDSA shows that board composition probably has a greater impact on the future success of an organisation than any other aspect of governance. It therefore follows that ensuring the board members have the right skills for the organisation’s needs is vital, in line with Principle 7 of King IV: The governing body should comprise the appropriate balance of knowledge, skills, experience, diversity and independence for it to discharge its governance role and responsibilities objectively and effectively.