AfrexInsure, the wholly-owned specialty insurance subsidiary of African Export-Import Bank (Afreximbank), has appointed Lesley Ndlovu as its new chief executive officer, effective 2026, replacing Jonas Mushosho.
In a statement Afreximbank said the appointment of Ndlovu, a Zimbabwean national, comes at a critical inflection point for AfrexInsure as it advances its mission to provide tailored specialty insurance solutions for trade and trade-related investments.
“As the organization builds momentum in its development, strong executive leadership is essential to guide governance, regulatory compliance, innovation, risk management, and market positioning,” Afreximbank said.
Ndlovu brings to AfrexInsure a distinguished career spanning some of the world’s leading insurance institutions, including AXA Specialty, African Risk Capacity (ARC), and AXIS Capital.
“His appointment introduces a unique blend of technical expertise, global market insight, and operational leadership precisely forged to support AfrexInsure’s transformation.
“Throughout his career, Mr. Ndlovu has led multidisciplinary teams in high-stakes environments where robust governance and disciplined underwriting are fundamental to sustainable performance. At AXA Specialty, he developed market-responsive products addressing complex specialty risk segments, experience that will prove invaluable as AfrexInsure designs differentiated solutions for Africa’s evolving trade landscape,” Afreximbank said.
Trade flows across Africa continue to face constraints from limited risk capacity, high insurance costs, and reliance on offshore markets for underwriting and reinsurance.
By appointing a CEO with deep expertise across global specialty insurance markets, Afreximbank said it was enhancing its ability to support trade transactions with robust, locally anchored insurance programs.
“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,” Ndlovu said.
“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.
Afreximbank president and board chairman George Elombi expressed confidence that Ndlovu would advance the mandate of AfrexInsure – managing risks associated with trade through local capacity with an aim to retain premiums within the continent.
