The appointment 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.

Lesley Ndlovu, a Zimbabwean national, 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.

This strategic leadership appointment marks a pivotal moment in the company’s evolution from its start-up phase into a dynamic scale-up stage, positioning it to deliver enhanced trade and investment risk mitigation solutions across Africa.

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 enhances its ability to support trade transactions with robust, locally anchored insurance programs.

This appointment reinforces AfrexInsure’s strategic role as a critical pillar within the broader Afreximbank Group ecosystem, complementing the array of Afreximbank’s product offerings.

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-capitalized 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.”

Amid global uncertainty and as the continent moves towards processing/value addition and industrialisation, speciality insurance will play a critical role in de-risking strategic investments and attracting capital to sectors critical for Africa’s socio-economic development.

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This strategic initiative aims to provide a comprehensive solution for specialty insurance needs in the trade sector, assisting businesses in optimally managing related risks.

Established in 2021, AFREXInsure is committed to delivering specialty insurance solutions tailored specifically for trade and trade-related investments across Africa. With its deep understanding of the African market and extensive continent-wide presence, AFREXInsure aims to offer quality, best-in-breed specialty insurance products to support the growth and establishment of trade and investment within the region.

During the launch event, held on the sidelines of Afreximbank’s 30th Anniversary Annual Meetings, Kanayo Awani, Executive Vice President of the Intra-African Trade Bank, spoke on behalf of Prof. Benedict Oramah, President and Chairman of the Board of Directors of Afreximbank.

Awani emphasized that AFREXInsure was established to facilitate the insurance of specialty risks, enabling businesses in Afreximbank member countries to mitigate economic challenges and reduce dependence on external partners for Africa’s economic resilience and development.

“Insurance plays a critical role in reducing transaction and investment risks, driving business strategies for intra-African trade, and fostering commercial interests and ambitions in Africa,” stated Ms. Awani.

She also highlighted that insurance penetration in Africa remains relatively low compared to other regions, making AFREXInsure’s presence all the more important. The subsidiary will work towards addressing this gap not only in Africa but also in partner states in the Caribbean, ensuring that insurance premiums stay within Africa and contribute to the continent’s trade and economic development.

The launch of AFREXInsure was accompanied by the unveiling of its logo and brand identity, represented by the slogan “Insurance Optimised.” This distinctive branding reflects the company’s commitment to providing specialized insurance solutions that optimize risk management for businesses across the continent.

AFREXInsure’s entry into the insurance market is poised to make a significant impact by facilitating trade and investment growth, bolstering Africa’s economic resilience, and fostering intra-African trade. 

As Afreximbank continues to drive forward its vision of promoting sustainable development and economic integration in Africa, the launch of AFREXInsure marks another milestone in the bank’s efforts to support businesses and enhance the continent’s trade landscape.

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