AfrexInsure names Lesley Ndlovu as new CEO to drive African trade risk solutions
AfrexInsure, the specialty insurance subsidiary of the African Export-Import Bank (Afreximbank), has announced the appointment of Lesley Ndlovu as its new Chief Executive Officer.
Effective immediately, Ndlovu succeeds Jonas Mushosho at a time when the organization is transitioning from a start-up phase into a dynamic “scale-up” stage. His leadership is expected to bolster the firm’s mission of providing tailored insurance solutions for trade and investment across the continent.
A Zimbabwean national, Ndlovu joins AfrexInsure with a high-profile track record in the global insurance sector. He has previously held senior roles at AXA Specialty, African Risk Capacity (ARC) and AXIS Capita.
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His experience in developing market-responsive products for complex risk segments is viewed as a strategic asset for AfrexInsure. The company aims to address long-standing barriers in African trade, such as high insurance costs and an over-reliance on offshore underwriting markets.
Commenting on the appointment, Dr. George Elombi, President and Chairman of the Board of Directors of Afreximbank, emphasized that Ndlovu’s expertise will help keep insurance premiums within the continent.
“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,” Elombi stated.
Ndlovu expressed his commitment to making the firm a cornerstone of the African trade ecosystem.
“AfrexInsure represents far more than an insurance subsidiary; it embodies a strategic imperative to address one of Africa’s most persistent trade barriers: the scarcity of sophisticated, well-capitalized risk mitigation solutions anchored on the continent,” Ndlovu said.
De-risking Industrialization
The appointment comes as Africa shifts toward value-added processing and industrialization. As global economic uncertainty persists, specialty insurance is increasingly viewed as a critical tool to de-risk strategic investments and attract capital to sectors vital for the continent’s development.
By anchoring insurance programs locally, AfrexInsure intends to provide more robust support for trade transactions, complementing the broader financial ecosystem of the Afreximbank Group.
