The Durban University of Technology will confer an honorary Doctor of Technology Degree in Accounting to Sizwe Nxasana, one of South Africa’s most prominent executives, in recognition of his exceptional business leadership involving major enterprises.
The honorary doctorate is being awarded to Nxasana, the CEO of FirstRand Limited, for his contributions to the transformation of the Accounting profession, as well as his significant community engagement efforts focusing on education and rural development.
Nxasana, one of South Africa’s first 10 Black Chartered Accountants, will receive this award during the University’s graduation ceremony in Durban on Thursday September 6, 2012.
He holds a Bachelor of Commerce Degree from the University of Fort Hare, an Honours Degree in Accounting Science from the University of South Africa (UNISA) as well as a Honorary Doctorate of Commerce from the University of Fort Hare, 2004.
Born in Newcastle, northern KwaZulu-Natal in 1957, Nxasana grew up in humble circumstances at the height of apartheid. His ambition, determination for success as well as support from his family would however ensure that he rose above any adversity.
Nxasana worked for Unilever and PriceWaterhouseCoopers before establishing Sizwe & Co in 1989, the first black-owned audit practice in KwaZulu-Natal. He was also a founding partner of Nkonki Sizwe Ntsaluba (1996) now called SizweNtsalubaGobodo – the fifth largest audit firm in South Africa, where he remained national managing partner until 1998 when he joined Telkom SA Limited as CEO until 2005.
In 2003, Nxasana led the listing of Telkom on the Johannesburg Stock Exchange as well as on the New York Stock Exchange.
Having joined FirstRand Limited in 2006, Nxasana became the group’s CEO. Under his guidance, FirstRand sailed through the economic recession and is the best performer amongst the four largest banks in South Africa on the JSE.
He is also the chairman of Zenex Foundation; a non-profit, independent donor organisation focusing on Mathematics, Science and language education in schools, the Thuthuka Bursary Fund which supports students studying towards being chartered accountants as well as the Mkhiwa Trust; his family social