AfrexInsure, the specialty insurance arm of the African Export-Import Bank (Afreximbank), has appointed Lesley Ndlovu as its new Chief Executive Officer, effective 2026. He succeeds Jonas Mushosho at a defining moment in the subsidiary’s growth trajectory.
The leadership change arrives as AfrexInsure sharpens its focus on delivering tailored insurance solutions for trade and trade-related investments across the continent — an ambition that demands seasoned executive oversight across governance, regulation, innovation, and risk management.
Ndlovu, a Zimbabwean national, brings a career built at some of the world’s most respected insurance institutions, including AXA Specialty, African Risk Capacity (ARC), and AXIS Capital. His blend of technical depth, global market experience, and operational leadership makes him well-suited to steer AfrexInsure through what the organisation describes as a transition from start-up to dynamic scale-up.
At AXA Specialty, Ndlovu developed products tailored to complex specialty risk segments — experience that positions him to design differentiated solutions for Africa’s evolving trade landscape. He has also led multidisciplinary teams in high-stakes environments where sound governance and disciplined underwriting are non-negotiable.
The appointment addresses a longstanding challenge in African trade: limited local risk capacity, high insurance costs, and an overdependence on offshore underwriting and reinsurance markets. By anchoring leadership in deep specialty insurance expertise, Afreximbank aims to build insurance programs that are both robust and continent-rooted.
Reflecting on the role, Ndlovu said he viewed AfrexInsure as more than a 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, adding that his goal is for AfrexInsure to become “a cornerstone of Africa’s trade ecosystem, supporting the continent’s economic transformation one risk solution at a time.”
Afreximbank President and Chairman Dr. George Elombi expressed confidence in the appointment, noting Ndlovu’s track record and commitment to keeping insurance premiums within Africa. “We are confident that Lesley will advance the mandate of AfrexInsure — managing risks associated with trade through local capacity,” he said.
The appointment also carries broader significance. As Africa accelerates toward industrialisation and value-added production amid global uncertainty, specialty insurance is increasingly seen as a critical lever for de-risking strategic investments and attracting capital to sectors essential for the continent’s socio-economic development.
