African Risk Capacity appoints new CEO from AXA

The African Risk Capacity (ARC) has appointed Lesley Ndlovu as its new chief executive officer (CEO) replacing Dolika Banda, effective March 1st, 2020.

Ndlovu's appointment follows the expiration of the tenure of Banda, the former CEO, under whose tenure the company is said to have recorded impressive growth of its disaster risk pool portfolio.

Ndlovu was the former CEO of AXA Africa Specialty Risks, a Lloyd’s of London insurance syndicate and has extensive international experience spanning 14 years across corporate finance, audit, tax advisory, insurance and investment management sectors in several countries including Bermuda, Singapore, France and the UK.

In his new role, Ndlovu will work under the guidance of the ARC Board in defining and implementing its strategic vision and will be accountable for its financial sustainability. He will have full strategic, financial and operational accountability for taking the company forward and growing pool membership, among other key roles.

“We are deeply appreciative and grateful to Ms. Dolika Banda for her selfless hard work, leadership and sterling commitment to ARC’s mission throughout her tenure in the past three years which helped see the Agency through many challenges in the start-up phase”, said the board chairman Dele Babade.

“We have reasonable expectations that Mr. Ndlovu will leverage his expertise, vast experience, deep knowledge and impressive networks to chart a new path with good partnerships to ensure that ARC remains a continental leader in disaster risk management and financing,” he added.