AfrexInsure, the specialty insurance subsidiary of African Export-Import Bank (Afreximbank), has appointed Lesley Ndlovu as its new Chief Executive Officer. He replaces Jonas Mushosho.
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The move follows efforts by AfrexInsure to strengthen its role in providing insurance cover for trade and trade-related investments, areas critical to facilitating cross-border transactions on the continent.
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Ndlovu, a Zimbabwean national, has held roles at AXA Specialty, African Risk Capacity (ARC), and AXIS Capital, with experience spanning specialty risk underwriting and insurance markets.
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His career includes leading teams in environments requiring governance and underwriting discipline, as well as developing products for complex risk segments at AXA Specialty.
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The appointment, according to the group, marks a transition for AfrexInsure from its start-up phase towards expansion, aimed at increasing its capacity to support trade and investment risks.
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Afreximbank said the leadership change is aimed at strengthening its ability to support trade transactions through locally anchored insurance structures, while reinforcing AfrexInsure’s role within its broader group operations.
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‎Commenting on his appointment, Ndlovu said he was honoured to take on the role at a pivotal time, describing AfrexInsure as addressing Africa’s shortage of well-capitalised risk mitigation solutions anchored on the continent.
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‎He added that AfrexInsure would support Africa’s trade ecosystem and the continent’s economic transformation, one risk solution at a time.
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‎President and Chairman of the Board of Directors of Afreximbank, Dr George Elombi, said Ndlovu’s experience in specialty insurance would support AfrexInsure’s mandate to manage trade risks through local capacity and retain premiums within the continent.
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‎As global uncertainty persists and Africa’s push towards industrialisation and value addition, specialty insurance is expected to play a role in reducing investment risks and attracting capital into key sectors.