He will succeed the previous Chancellor, Chris Stals.
As one of the countrys first black chartered accountants, Nkuhlu has been a role-model to subsequent generations of black professionals, including South Africas newly appointed Auditor- General. Terence Nombembe.
Nombembe said he had been inspired by Nkuhlus example when he was a student at the University of Transkei.
As a public figure and businessman, Professor Nkuhlu was recently appointed chairperson of the Eastern Cape Development Corporation and non-executive chair of Kagiso Trust Investments.
He is also chairperson of Pan-African Capital Holdings, was the first chairperson of the Council of Higher Education, served as Economic Advisor to President Thabo Mbeki and was chief executive of the secretariat of the New Partnership for Africas Development.
Other directorships include Old Mutual PLC and Virgin Active South Africa.
He has received honorary doctorates from the universities of Pretoria, Cape Town, Free State and Slellenbosch as well as merit awards from the National African Federated Chamber of Commerce, Association of Advancement of Black Accountants and Black Management Forum.