By| Goodluck E.Adubazi | Abuja
AfrexInsure, the specialty insurance subsidiary of African Export-Import Bank, has appointed Lesley Ndlovu as its new Chief Executive Officer, marking a significant leadership transition as the company accelerates its growth strategy.
Ndlovu, a Zimbabwean insurance executive with extensive global experience, succeeds Jonas Mushosho.
His appointment comes at a pivotal stage in AfrexInsure’s evolution as it moves from its start-up phase into a full-scale operational player in Africa’s trade insurance market.
The company said the leadership change is critical to strengthening governance, regulatory compliance, innovation, and risk management as it expands its role in supporting trade and investment across the continent.
Ndlovu brings decades of experience from top-tier institutions including AXA Specialty, African Risk Capacity, and AXIS Capital.
His track record includes developing specialized insurance products and leading high-performing teams in complex, risk-intensive environments.
Industry analysts say his expertise could prove crucial as AfrexInsure seeks to address long-standing challenges in Africa’s trade ecosystem, including limited local risk capacity, high insurance costs, and dependence on offshore underwriting.
In a statement, Ndlovu described his appointment as both an honour and a responsibility at a “transformative juncture” for the company. He emphasized AfrexInsure’s broader mission to tackle one of Africa’s key trade barriers — the lack of sophisticated, well-capitalized risk mitigation solutions rooted within the continent.
“I am deeply honoured to assume this role,” Ndlovu said, adding that the company aims to become a cornerstone of Africa’s trade infrastructure by delivering innovative insurance solutions.
George Elombi, President and Chairman of
Afreximbank, expressed confidence in the new CEO, citing his strong background in specialty insurance and commitment to Africa’s economic transformation.
“With a solid track record, we are confident that Lesley will advance AfrexInsure’s mandate of managing trade risks while retaining premiums within the continent,” Elombi said.
The appointment underscores AfrexInsure’s growing strategic importance within the Afreximbank Group, as Africa intensifies efforts toward industrialisation, value addition, and implementation of the African Continental Free Trade Agreement.
Experts note that as global economic uncertainty persists, specialty insurance will play a vital role in de-risking investments and attracting capital to critical sectors across Africa.
Founded as part of Afreximbank’s broader ecosystem, AfrexInsure is expected to play a central role in reshaping how trade risks are managed on the continent, helping to unlock new opportunities for intra-African and global commerce.
