AfrexInsure, the specialty insurance subsidiary of the African Export-Import Bank (Afreximbank), has officially appointed Lesley Ndlovu as its new Chief Executive Officer.
Ndlovu, a Zimbabwean national with extensive experience in global specialty insurance, succeeds Jonas Mushosho.
Ndlovu has held senior leadership roles at AXA Specialty, AXIS Capital, and most recently as CEO of the African Risk Capacity (ARC), he brings a rare combination of international market insight and a deep-rooted understanding of African risk landscapes.
During his tenure at AXA Specialty, Ndlovu was credited with developing market-responsive products for complex risk segments—a skill set that AfrexInsure intends to leverage to address the scarcity of sophisticated, locally-anchored insurance solutions on the continent.
For decades, African trade flows have been hampered by high insurance costs and a heavy reliance on offshore underwriting. AfrexInsure was established to disrupt this cycle by retaining premiums within the continent and providing tailored solutions for trade-related investments.
Dr. George Elombi, President and Chairman of the Board of Directors of Afreximbank, expressed high confidence in the new appointment: “With a solid track record in specialty insurance and commitment to Africa’s economic transformation, we are confident that Lesley will advance the mandate of AfrexInsure—managing risks associated with trade through local capacity with an aim to retain premiums within the continent.”
As Africa moves toward increased industrialization and the implementation of the African Continental Free Trade Agreement (AfCFTA), the demand for specialty insurance is surging. Ndlovu’s mandate will focus on:
- Governance & Compliance: Strengthening the regulatory framework to support pan-African operations.
- Product Innovation: Designing differentiated solutions for evolving trade landscapes.
- Market Positioning: Moving the company into a dynamic scale-up phase to attract more strategic investment to the continent.
Reflecting on his new role, Ndlovu emphasized that AfrexInsure is more than just a business entity; it is a strategic imperative. “I am deeply honoured to assume the role of Chief Executive Officer at this transformative juncture,” said Ndlovu. “Together, we will ensure that AfrexInsure becomes a cornerstone of Africa’s trade ecosystem, supporting the continent’s economic transformation one risk solution at a time.”