AfrexInsure, the specialty insurance subsidiary of the African Export-Import Bank (Afreximbank), has announced the appointment of Lesley Ndlovu as its new Chief Executive Officer, effective in 2026. He succeeds Jonas Mushosho.
The appointment comes at a significant stage in AfrexInsure’s growth as the organisation advances its mission to provide specialised insurance solutions for trade and trade-related investments across Africa. As the company builds momentum, strong executive leadership is seen as crucial to strengthening governance, regulatory compliance, innovation, risk management, and market positioning.
Mr Ndlovu, a Zimbabwean national, joins AfrexInsure with extensive experience gained at leading global insurance institutions, including AXA Specialty, African Risk Capacity (ARC) and AXIS Capital. His appointment brings a combination of technical expertise, global market insight, and operational leadership expected to support AfrexInsure’s next phase of development.
During his career, Mr Ndlovu has led multidisciplinary teams in complex operating environments where robust governance and disciplined underwriting are key to sustainable performance. At AXA Specialty, he helped develop market-responsive products designed to address complex specialty risk segments, experience that is expected to support AfrexInsure as it develops solutions for Africa’s evolving trade environment.
The leadership appointment marks a key moment in AfrexInsure’s transition from its start-up phase to a scale-up stage, positioning the company to strengthen its ability to deliver risk mitigation solutions for trade and investment across the continent.
Trade flows across Africa continue to face constraints such as limited risk capacity, high insurance costs and reliance on offshore markets for underwriting and reinsurance. By appointing a chief executive with extensive experience in global specialty insurance markets, Afreximbank aims to strengthen its capacity to support trade transactions through locally anchored insurance programmes.
The move also reinforces AfrexInsure’s role within the broader Afreximbank Group ecosystem, complementing the bank’s existing suite of financial and trade support services.
Commenting on his appointment, Lesley Ndlovu, Chief Executive Officer, AfrexInsure, 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-capitalised 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,” he added.
Speaking on Ndlovu’s appointment, Dr George Elombi, President and Chairman of the Board of Directors of Afreximbank, stated:
“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.”
As global economic uncertainty persists and African economies focus on industrialisation, value addition, and processing, speciality insurance is expected to play an increasingly important role in de-risking strategic investments and attracting capital to sectors critical for the continent’s socio-economic development.
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