AfrexInsure, the wholly-owned specialty insurance subsidiary of the African Export-Import Bank (Afreximbank), has appointed Zimbabwean Lesley Ndlovu as its new chief executive officer.
The appointment took effect in January this year, with Ndlovu replacing another Zimbabwean, Jonas Mushosho.
The leadership change comes as AfrexInsure moves to scale up its operations across the continent, positioning itself as a key vehicle for providing Africa-based insurance capacity to support trade and trade-related investments while reducing reliance on offshore markets.
As the organisation builds momentum in its development, strong executive leadership is essential to guide governance, regulatory compliance, innovation, risk management, and market positioning.
Ndlovu brings to AfrexInsure a distinguishd career spanning some of the world’s leading insurance institutions, including AXA Specialty, African Risk Capacity (ARC) and AXIS Capital.
His appointment introduces a blend of technical expertise, global market insight and operational leadership expected to support AfrexInsure’s growth.
Throughout his career, Ndlovu has led multidisciplinary teams in high-stakes environments where robust governance and disciplined underwriting are central to sustainable performance.
At AXA Specialty, he developed market-responsive products addressing complex specialty risk segments, experience that is expected to support AfrexInsure as it designs differentiated solutions for Africa’s evolving trade landscape.
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This strategic leadership appointment marks a pivotal moment in the company’s evolution from its start-up phase into a scale-up stage, positioning it to deliver enhanced trade and investment risk mitigation solutions across Africa.
Trade flows across Africa continue to face constraints from limited risk capacity, high insurance costs and reliance on offshore markets for underwriting and reinsurance. By appointing a CEO with deep expertise across global specialty insurance markets, Afreximbank aims to strengthen its ability to support trade transactions with robust, locally anchored insurance programmes.
The appointment also reinforces AfrexInsure’s role as a key pillar within the broader Afreximbank Group ecosystem, complementing the bank’s range of trade finance products.
Ndlovu said he was honoured to assume the role at a transformative moment for the company.
“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-capitalised risk mitigation solutions anchored on the continent,” he said.
Afreximbank president and board chair George Elombi said the bank was confident Ndlovu would advance the company’s mandate.
“With a solid track record in speciality 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 the aim of retaining premiums within the continent,” he said.
