Anushka Bogdanov responds to JSE’s R500K fine over fake PhD allegations, citing inaccuracies and lack of due process while reaffirming her commitment to governance and ESG leadership in Africa.
On Friday, the Johannesburg Stock Exchange (JSE) announced it has imposed a R500,000 fine and a 10-year directorship ban on Anushka Bogdanov, a former non-executive director of EOH Holdings (now iOCO), for falsely claiming to hold a PhD in International Finance from the London Business School.
Bogdanov served as an independent non-executive director at EOH from June 2019 until her resignation in July 2020.
During her tenure, her curriculum vitae and a formal declaration to the JSE stated she held a PhD in International Financial Management and Mathematics from the London Business School.
EOH subsequently discovered that Bogdanov never obtained the claimed degree, leading to an extensive JSE investigation.
Despite multiple opportunities to provide proof, Bogdanov failed to substantiate her qualifications and eventually admitted in late 2024 that her PhD was fabricated.
In a LinkedIn post and forwarded to TechFinancials, Bogdanov wrote:
“ I am aware of the SENS announcement published by the Johannesburg Stock Exchange (JSE) on 25 July 2025 referencing my academic qualifications.
The announcement contains several factual inaccuracies and misrepresentations.
Anushka is a highly qualified governance and risk management specialist with over three decades of professional experience in senior leadership positions in various financial and development institutions. She has submitted all supporting documentation from accredited institutions, including her doctoral research, to the JSE in good faith and in full transparency.
She is deeply concerned by both the content and the governance processes led to the announcement, including the lack of reasonable opportunity to respond prior to its publication. She has sought legal advice and remains committed to engaging constructively with all relevant parties to clarify and resolve this matter.
As well recognised risk management, governance expert recognized far beyond South Africa borders and the pioneer of Africa’s first ESG AI-powered rating and analytics platform, Anushka Bogdanov led the development of ESG on Africa continent since 2017 at a time when the global ESG landscape largely excluded African markets.
Various ESG tools were conceptualized, built, and launched for Africa by Africans, and is now used by several African institutions improving market transparency, drive governance and responsible investment, and combat greenwashing. She remains focused on supporting sustainable development, climate resilience, and inclusive growth for the continent especially in a time when global reversals on climate and diversity demand bold leadership.”
