Online Reporter
Business Reporter
AfrexInsure, the wholly-owned specialty insurance subsidiary of the African Export-Import Bank (Afreximbank), has announced the appointment of Zimbabwean national Lesley Ndlovu as its new Chief Executive Officer.
Mr Ndlovu is set to assume the role in 2026, succeeding Jonas Mushosho at a period the board describes as a critical inflection point for the organisation’s continental mission.
The leadership transition marks a strategic pivot for AfrexInsure as it moves from its initial start-up phase into a dynamic scale-up stage. Since its inception, the subsidiary has been tasked with providing tailored specialty insurance solutions for trade and trade-related investments, addressing a long-standing reliance on offshore markets for underwriting and reinsurance.
By appointing an executive with deep global expertise, Afreximbank aims to enhance its ability to support trade transactions through robust, locally anchored insurance programmes.
Mr Ndlovu joins the firm following a distinguished career at several of the world’s leading insurance institutions, including AXA Specialty, AXIS Capital, and the African Risk Capacity (ARC). His professional background offers a unique blend of technical expertise and operational leadership, specifically forged to support AfrexInsure’s ongoing transformation. During his tenure at AXA Specialty, he was instrumental in developing market-responsive products for complex risk segments, an experience expected to be invaluable as the company designs differentiated solutions for Africa’s evolving trade landscape.
The appointment comes at a time when trade flows across Africa continue to face significant constraints, including limited risk capacity and high insurance costs. As the continent shifts towards industrialisation and value-added processing, the role of specialty insurance has become a strategic imperative to de-risk investments and attract the capital necessary for socio-economic development.
Commenting on his appointment, Mr Ndlovu expressed his honour in leading the company during this transformative juncture. He noted that AfrexInsure represents far more than a standard insurance subsidiary; it embodies a strategic necessity to address the scarcity of sophisticated, well-capitalised risk mitigation solutions anchored within the continent. He added that he remains committed to ensuring the company becomes a cornerstone of the African trade ecosystem.
Dr George Elombi, President and Chairman of the Board of Directors of Afreximbank, shared his confidence in the new appointment, citing Mr Ndlovu’s solid track record and dedication to Africa’s economic progress. Dr Elombi emphasised that under this new leadership, AfrexInsure will continue to advance its mandate of managing trade-related risks through local capacity, ensuring that insurance premiums are retained within the continent to fuel further growth.
