Thabi Leoka Exits MTN South Africa Board Amid Qualification Scrutiny

In a move that has intrigued the business community in South Africa, Thabi Leoka has tendered her resignation as an independent non-executive director of MTN South Africa with immediate effect. This follows a chain of similar announcements concerning her roles at prestigious firms, including her departure from the board of Anglo American Platinum.

Leoka, who had been a part of the MTN Group subsidiary since 2019, cited the need to prioritize her health and to respond to queries regarding her academic qualifications as the reasons for her departure. These questions arise amidst accusations alleging that Leoka claimed to have earned a PhD in economics from the London School of Economics (LSE), which has now come under scrutiny.

The parallel nature of the announcements by MTN South Africa and Anglo American Platinum raises concerns and stirs debate across various sectors in the South African corporate world. Curiosity and speculation grow around the circumstances and pressures that have led to these abrupt exits.

Fueling these speculations, the details around Leoka's academic qualifications became a point of controversy after investment corporation Remgro retracted her directorship appointment right before its Annual General Meeting in December 2023. Curiously, shortly after the cancellation, the title 'Dr.' that was previously associated with Leoka's name was conspicuously dropped.

The narrative took another turn when Business Day reported that Leoka allegedly did not possess a PhD from LSE as she had asserted. In the battle of her defense, Leoka insisted that these claims were baseless. She sought to clear her name by presenting to News24 what appeared to be a doctoral degree document from the aforementioned institution.

This unfolding story reflects not just a personal journey for Leoka but also underscores the importance of transparency and accountability in corporate governance. It also highlights the lengths to which corporate bodies will go to protect their integrity and ensure that those in executive positions hold verifiable qualifications.

The circumstances surrounding Thabi Leoka's departure will likely continue to reverberate in the South African business community, prompting discussions about the stringent verification processes for appointed directors and the checks and balances required in the upper echelons of corporate South Africa.

The developments serve as a reminder of the critical evaluation of executive credentials, ensuring that they align with the expectations and standards set forth by corporations and the wider market.

This story also demonstrates the swift response of the Johannesburg Stock Exchange (JSE) Limited Listings Requirements, ensuring that corporate South Africa adheres to the highest standards of governance.

As the saga continues to unfold, stakeholders look to see how MTN South Africa and other affected parties manage the transition and the narrative moving forward. Moreover, this event will likely put into perspective the importance of due diligence by companies when vetting candidates for their board, safeguarding their reputation and the interests of their shareholders.