Jse Fines Former Ramaphosa Advisor Thabi Leoka Over Fake Phd Scandal

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Economist Thabi Leoka, who had served on the boards of Remgro, Anglo American Platinum and MTN, and was part of President Cyril Ramaphosa's economic council, has been publicly censured by the JSE for misrepresenting her qualifications.

The bourse announced on Friday that it fined her R500 000 and immediately disqualified her from holding the office of a director or officer of a listed company for five years.

Questions arose about the veracity of her PhD from the London School of Economics LSE in January following a Business Day report . Leoka previously maintained to News24 that she was in possession of the degree and had the certificate to prove it. She said that the degree a Doctor of Philosophy in Economics was awarded to her in November 2008. She provided an image of a facsimile of a certificate, but without the date on which it was awarded.

However, the LSE maintained that it had no evidence it granted her the degree.

Leoka subsequently resigned as director from various companies, and was fired from Ramaphosa's Presidential Economic Advisory Council.

The JSE said on Friday that Leoka previously submitted a director's declaration, when appointed to the companies, that confirmed she had a PhD.

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