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Sizwe Nxasana

FirstRand Limited
CEO and Executive Director
Johannesburg Area, South Africa

Mr. Sizwe Errol Nxasana is CEO and Executive Director of FirstRand Limited. He went on to become one of the first 10 black chartered accountants in South Africa, which at the time wasn’t part of his planning. Having decided to enrol for a marketing degree at Fort Hare, Sizwe was inspired by Professor Wiseman Nkuhlu, the first African to qualify as a chartered accountant in South Africa and who had started lecturing at Fort Hare in 1976. Sizwe was awarded an honorary doctorate from the University of Fort Hare in 2004. He matriculated at Mariannhill High School in Kwazulu-Natal.

He started his career at Unilever. In 1989 he established Sizwe & Co, the first black-owned audit practice in Kwazulu Natal. In 1996 he became the founding partner of Nkonki Sizwe Ntsaluba, the first black-owned national firm of accountants and was national managing partner. Sizwe Ntsaluba Gobodo is now the 5th largest audit firm in South Africa. In 1998 he joined Telkom SA as Chief Executive Officer, a position he occupied until 2005. He was responsible for listing Telkom on the Johannesburg Stock Exchange (JSE) and New York Stock Exchange (NYSE) in 2003. Telkom sold shares at R28 each in the 2003 Initial Public Offering (IPO) on the JSE, the only IPO of a state-owned company since the end of apartheid. At the time of his departure at Telkom in 2005, the share price had trebled reaching its highest level of R117, up by 318% from its listing price.

In January 2006 Sizwe took over as CEO of FirstRand Bank, the wholly-owned subsidiary of FirstRand Limited, with responsibility for the entire banking operations of the Group, including First National Bank, Rand Merchant Bank and WesBank. In January 2010 Sizwe was appointed CEO of FirstRand Limited.

My Distinguished Guests Sessions

Thursday, April 20

12:00 GMT+04