AFREXINSURE, the wholly owned specialty insurance subsidiary of African Export-Import Bank (Afreximbank), has appointed Lesley Ndlovu as its new chief executive officer, effective in 2026.
He succeeds Jonas Mushosho.
The appointment comes at a pivotal moment for AfrexInsure as it advances its mission to provide tailored specialty insurance solutions for trade and trade-related investments across Africa.
As the organisation gains momentum, strong executive leadership will be crucial in steering governance, regulatory compliance, innovation, risk management and market positioning, the pan-African bank said in a statement Monday.
A Zimbabwean national, Ndlovu brings to AfrexInsure a distinguished career spanning several of the world’s leading insurance institutions, including AXA Specialty, African Risk Capacity (ARC) and AXIS Capital.
His appointment brings together deep technical expertise, global market insight and proven operational leadership—skills that will support AfrexInsure’s next phase of growth and transformation.
Keep Reading
- MIHR petitions govt on Lubimbi relocations
- ‘Timely IMF boost saved Zim’
- In Full: Twelfth post-cabinet press briefing: May 10, 2022
- Blocked funds choke NMB
Commenting on his appointment, Ndlovu said he was deeply honoured to assume the role at such a transformative moment in the company’s journey.
“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.
“I extend my gratitude to Afreximbank’s leadership and the AfrexInsure Board of Directors for their confidence in this appointment. Together, we will ensure that AfrexInsure becomes a cornerstone of Africa’s trade ecosystem, supporting the continent’s economic transformation one risk solution at a time.”
George Elombi, president and chairman of the board of directors of Afreximbank, said Ndlovu’s strong track record in specialty insurance and commitment to Africa’s economic transformation made him well suited for the role.
“We are confident that Lesley will advance the mandate of AfrexInsure - managing risks associated with trade through local capacity with an aim to retain premiums within the continent,” Elombi said.
Throughout his career, Ndlovu has led multidisciplinary teams in high-stakes environments where strong governance and disciplined underwriting are essential to sustainable performance.
At AXA Specialty, he developed market-responsive products to address complex specialty risk segments—experience that will be valuable as AfrexInsure designs differentiated solutions for Africa’s evolving trade landscape.
The appointment marks a significant step in AfrexInsure’s evolution as it moves from its start-up phase into a dynamic scale-up stage, positioning the company to deliver stronger trade and investment risk mitigation solutions across the continent.
Trade flows across Africa continue to face constraints, including limited risk capacity, high insurance costs and reliance on offshore markets for underwriting and reinsurance.
By appointing a chief executive with deep experience in global specialty insurance markets, Afreximbank aims to strengthen its ability to support trade transactions with robust, locally anchored insurance programmes.
The move also reinforces AfrexInsure’s strategic role within the broader Afreximbank Group ecosystem, complementing the bank’s expanding range of financial and trade support products.
Amid global uncertainty—and as the continent pushes towards greater value addition, processing and industrialisation—specialty insurance will play an increasingly important role in de-risking strategic investments and attracting capital to sectors critical for Africa’s socio-economic development.