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Business Reporter
AFRICAN Risk Capacity Limited (ARC) chief executive Lesley Ndlovu has been selected into the World Economic Forum’s Young Global Leaders Class of 2022.
Mr Ndlovu is among 109 representatives from across the world that have been included in the WEF’s young global leader’s class of 2022 and joins 13 other young African leaders on the list.
ARC, led by Mr Ndlovu, is a hybrid mutual insurer and financial affiliate of the African Risk Capacity Group.
The organisation provides parametric insurance services to African Union members and farmer organisations, employing innovative financing mechanisms to pool disaster-related risk across the continent and transferring it to international risk markets.
Commenting on his selection, Mr Ndlovu said the recognition would be a boost for ARC.
“Insurance plays a critical role in transferring risk away from the most vulnerable people to the global reinsurance markets such that when a drought happens, insurance claims can be quickly paid to the affected people to allow them to resume their economic activities with minimum disruption,” said Mr Ndlovu.
“This represents an extension of my work at the African Risk Capacity, where we are already the leading provider of weather related insurance on the African continent, working with both governments and the private sector. “At ARC we are working to make insurance available, accessible and affordable for Africans.
” We are currently providing insurance to about 30 million Africans each year and our five year ambition is to be covering 200 million people per year,” Mr Ndlovu added,
The forum of young global leaders was founded in 2005 by Klaus Schwab, founder and executive chairman of the World Economic Forum, to help shape future leaders who are equipped to both take responsibility for creating a more sustainable and inclusive world, and to address its increasingly complex and interrelated challenges.
“The leaders celebrated today have demonstrated exceptional ingenuity and vision across their fields. While they represent diverse sectors, regions and issue areas, they are united in their commitment to lead towards a more inclusive and sustainable world,” said Mariah Levin, head of the Forum of Young Global Leaders in a note.
African Risk Capacity Limited said the recognition would empower Mr Ndlovu to further advance the organisation’s mission of promoting pro-active disaster risk management in Africa and continue to increase the number of Africans with access to insurance in the face of climate change.
Mr Ndlovu becomes the fourth Zimbabwean to be put on the list after Mayur Patel (chief commercial officer, M-KOPA), Vimbayi Kajese (Founder, #Adtags) and Kirst Coventry, Sports, Arts and Recreation Minister.
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