The leadership transition, which takes effect in 2026, will see Ndlovu take over from Jonas Mushosho at a pivotal moment in the firm’s growth. AfrexInsure is entering a scale-up phase after its initial start-up period, with increased focus on expanding specialised insurance solutions for trade and trade-related investments across the continent.
According to Afreximbank, the appointment is aimed at strengthening executive capacity in key areas such as governance, regulatory compliance, enterprise risk management and market positioning, as demand grows for robust risk mitigation frameworks within Africa’s trade ecosystem.
Ndlovu, a Zimbabwean insurance executive, brings extensive experience from the global specialty insurance market. He has held senior leadership roles at firms including AXA Specialty, African Risk Capacity and AXIS Capital, where he led multidisciplinary teams and developed products targeting complex risk segments.
Industry analysts say his background could bolster AfrexInsure’s capacity to underwrite Africa-focused risks at a time when businesses across the continent continue to grapple with limited local insurance capacity, high premium costs and heavy reliance on offshore markets.
Speaking on his appointment, Ndlovu described the moment as a critical juncture in the company’s evolution, noting that AfrexInsure’s mission extends beyond conventional insurance provision to addressing structural trade barriers tied to inadequate risk mitigation solutions.
He expressed appreciation to Afreximbank’s leadership and board, adding that the company aims to become a central pillar in Africa’s trade infrastructure by supporting investment flows and economic transformation.
President and Chairman of Afreximbank, George Elombi, said the appointment reflects confidence in Ndlovu’s ability to advance the institution’s mandate. He noted that strengthening Africa’s insurance capacity is key to retaining premium flows within the continent while improving the management of trade-related risks.
AfrexInsure plays a strategic role within the Afreximbank Group, providing tailored insurance solutions that help de-risk transactions, attract capital and support critical sectors. The leadership change comes amid increasing calls for stronger Africa-based insurance systems as countries intensify efforts toward industrialisation, value addition and the expansion of intra-African trade.