Interviews

In this interview, Sizwe Nxasana describes his long and varied career in several sectors of the South African economy. He relates details of his education, his decision to become an accountant, and the problems he faced as a Black professional in an apartheid state. Among other difficulties, he could not travel with his white colleagues, or even ride in the same elevators as they did. He describes many challenges resulting from legislation and government regulations which dictated the kinds of information available to Black and white auditors, and other unusual arrangements resulting from the system of apartheid. He describes the early growth of his accounting firm and the changing business environment as that system was dismantled. He details the ways in which the firm trained new accountants and expanded opportunities for black students to enter the profession, and his efforts to create a culture of professionalism and excellence.

Nxasana shares the background and process of the decision he made early in his life to think of his career in ten-year increments and the serendipitous encounters that led to his widely varied business endeavors. He discusses the transformation of the state-owned telecommunications company into a corporate entity that would include Black people in executive roles and extend service to previously underserved centers of Black population. Nxasana details his efforts to simultaneously expand service and increase the efficiency of the company, while navigating a complicated and evolving governmental bureaucracy.

Next, Nxasana describes his transition into the banking industry. He identifies the crucial role that bringing technology up to date played in his success at FirstRand, and the need to eliminate inefficiencies in staffing and structure just as he had at Telkom. As at Telkom, growth was driven by the need and opportunity Nxasana recognized to expand into the previously underserved customer base of Black South Africans, as well as beginning to develop an international presence. Nxasana relates the ways his experience with technology drove progress in the bank.

Finally, Nxasana discusses his current work as head of the National Student Financial Aid Scheme. He describes his long involvement with basic education as part of corporate social investment at Telkom and FirstRand, which led to his being asked to join the government to work on financial issues in college and university education. In the education sector as in telecom and banking, Nxasana finds that improving efficiencies and expanding opportunities are the critical steps to success. He articulates “a holistic way of looking at the reform of the higher education sector in South Africa,” and “position[ing] South Africa to be a really active participant, and maybe even a driver, of this fourth industrial revolution that is upon us.”

 Close