Staff Writer
A Zimbabwean insurance executive has been appointed to lead the specialty insurance arm of the African Export-Import Bank, marking a key leadership change at a time when African trade institutions are seeking stronger risk-management solutions.
AfrexInsure, the specialty insurance subsidiary of African Export-Import Bank, announced on Monday that Lesley Ndlovu will serve as its new Chief Executive Officer beginning in 2026. He replaces outgoing CEO Jonas Mushosho.
The Cairo-based institution said the appointment comes as AfrexInsure transitions from its start-up phase to a growth stage, expanding its role in providing risk-mitigation solutions for trade and trade-related investments across Africa.
Ndlovu brings decades of experience in the global insurance industry, having held senior positions at firms including AXA Specialty, African Risk Capacity, and AXIS Capital. According to AfrexInsure, his background in specialty risk markets and underwriting will support the company’s efforts to develop insurance products tailored to Africa’s trade environment.
African trade flows continue to face challenges such as limited risk capacity, high insurance costs, and reliance on offshore markets for underwriting and reinsurance. AfrexInsure was created to help address those gaps by building insurance capacity on the continent and supporting trade transactions through locally anchored risk solutions.
In a statement following the announcement, Ndlovu said the institution plays a critical role in tackling one of Africa’s longstanding barriers to trade — the shortage of sophisticated, well-capitalised risk-management tools.
“I am deeply honoured to assume the role of Chief Executive Officer at AfrexInsure at this transformative juncture,” he said, adding that the organisation aims to become a cornerstone of Africa’s trade ecosystem by strengthening insurance solutions that support investment and economic growth.
George Elombi, President and Chairman of the Board of Directors of African Export-Import Bank, said the bank expects Ndlovu’s leadership to strengthen AfrexInsure’s mandate of managing trade-related risks while retaining insurance premiums within Africa.
“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,” Elombi said.
The bank noted that as African economies push for industrialisation, value addition and expanded intra-African trade, specialty insurance will play a growing role in de-risking strategic investments and attracting capital into key sectors.
AfrexInsure forms part of the broader Afreximbank Group ecosystem, which aims to support trade financing, investment promotion and risk management across the continent.
