ARC announces appointment of new CEO

The Board of African Risk Capacity Limited (ARC) announced the appointment of Mr. Lesley Ndlovu, as its new Chief Executive Officer following the expiration of the tenure of Ms Dolika Banda, its former CEO.

The appointment takes effect from March 1, 2020.

Ndlovu was the former CEO of AXA Africa Specialty Risks, a Lloyd’s of London insurance syndicate and has extensive international experience spanning 14 years across corporate finance, audit, tax advisory, insurance and investment management sectors in several countries including Bermuda, Singapore, France and the United Kingdom.

As CEO, Ndlovu will work under the guidance of the ARC Limited Board in defining and implementing the ARC strategic vision and will be accountable for its financial sustainability. He will have full strategic, financial and operational accountability for taking the company forward and growing pool membership, among other key roles.

Commenting on the new appointment, the Board Chairman, Mr. Dele Babade, said that: “We are deeply appreciative and grateful to Ms. Dolika Banda for her selfless hard work, leadership and sterling commitment to ARC’s mission throughout her tenure in the past three years which helped see the Agency through many challenges in the start-up phase.

“We have reasonable expectations that Mr. Ndlovu will leverage his expertise, vast experience, deep knowledge and impressive networks to chart a new path with good partnerships to ensure that ARC remains a continental leader in disaster risk management and financing”.

Ndlovu is a graduate of the University of Oxford in England and was at the Institute Européen d’Administration des Affaires (INSEAD) in France. He is a CFA charter holder, a member of the Institute of Chartered Accountants of England & Wales and a member of the Institute of Directors.

The ARC Limited is a financial affiliate of the African Risk Capacity (ARC), which is a specialised agency of the African Union established to assist member states tackle the impact of natural disasters on vulnerable people.