AfrexInsure appoints Lesley Ndlovu as new Chief Executive Officer

AfrexInsure, the wholly-owned specialty insurance subsidiary of the African Export-Import Bank (Afreximbank), has named Lesley Ndlovu as its new Chief Executive Officer, effective 2026. He succeeds Jonas Mushosho in the role.

The appointment arrives at a pivotal moment as AfrexInsure accelerates its efforts to deliver tailored insurance solutions for trade and trade-related investments across the continent. Strong executive guidance is seen as vital to advancing governance, regulatory adherence, innovation, risk management, and competitive positioning in Africa’s evolving insurance landscape.

A Zimbabwean national, Mr. Ndlovu brings extensive experience from prominent global institutions, including AXA Specialty, African Risk Capacity (ARC), and AXIS Capital. His background combines deep technical knowledge, international market perspective, and proven leadership in high-stakes environments, where disciplined underwriting and robust governance drive long-term success.

At AXA Specialty, he spearheaded the development of innovative products for complex specialty risks—expertise expected to help AfrexInsure craft differentiated offerings that address Africa’s unique trade challenges.

The move signals AfrexInsure’s transition from its foundational phase to a growth-oriented stage, strengthening its capacity to provide locally anchored risk mitigation tools. Africa’s trade continues to grapple with limited local capacity, elevated premiums, and heavy dependence on offshore reinsurance markets. By securing a leader with broad specialty insurance expertise, Afreximbank bolsters its ecosystem to retain more premiums on the continent and support broader economic integration.

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Commenting on his appointment, Lesley Ndlovu said: “I am deeply honoured to assume the role of Chief Executive Officer at AfrexInsure at this transformative juncture 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-capitalized risk mitigation solutions anchored on the continent.

“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.”

Dr. George Elombi, President and Chairman of the Board of Directors of Afreximbank, added: “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 an aim to retain premiums within the continent.”