Economist and entrepreneur Thabi Leoka, whose alleged fabrication of a doctorate from the London School of Economics (LSE) has stirred controversy, reportedly cost her the opportunity to be considered as a successor to Reserve Bank Deputy Governor Kuben Naidoo, according to the Sunday Times.
Leoka, initially listed among potential candidates following Naidoo’s resignation, was removed early in the selection process last year after revelations surfaced about her dishonesty on her CV. This discovery occurred before Business Day exposed the questionable doctorate, dealing a significant blow to her aspirations.
Business Day disclosed that Leoka became embroiled in a scandal surrounding the misrepresentation of her qualifications, a factor believed to be one of the reasons behind her parting ways with Johann Rupert’s investment vehicle, Remgro, in December. Business Day sources reported that Leoka, who serves on the boards of several companies including Anglo American Platinum and MTN SA, does not possess a PhD in economics from the LSE, as claimed.
The misrepresentation prompted Remgro to withdraw her appointment just months after her initial appointment, and the company opted not to provide details regarding the reasons for her departure. Leoka subsequently sent a letter of demand to Business Day, contesting the report. However, the publication’s editor, Alex Parker, affirmed the accuracy of the story.
Vincent Magwenya, the Presidency spokesperson, when questioned about Leoka’s candidacy for the deputy governor post, redirected inquiries to the Reserve Bank. Thoraya Pandy, the Reserve Bank spokesperson, clarified that the appointment of the governor and deputy governor lies within the jurisdiction of the Presidency.
Despite attempts to reach Leoka for comments, the Sunday Times reported that these efforts had failed at the time of their report.
