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The ARC Ltd appoints new CEO as Dolika Banda departs

10th February 2020 - Author: Luke Gallin

The African Risk Capacity Limited (the ARC Ltd), a financial affiliate of the Africa Risk Capacity (ARC), has announced Lesley Ndlovu as its new Chief Executive Officer (CEO), effective March 1st, 2020.

Lesley NdlovuNdlovu’s appointment comes after the expiration of the tenure of previous CEO Dolika Banda, who took over the post from Dr. Simon Young in September of 2016.

Formerly the CEO of AXA Africa Specialty Risks, a Lloyd’s of London syndicate, Ndlovu brings 14 years of international experience across corporate finance, audit, tax advisory, insurance and investment management sectors in a range of territories, including Bermuda, Singapore, France, and the UK.

In his new role, he will have full strategic, financial and operational accountability for taking the firm forward and expanding its base of pool members, among other key roles. While serving as CEO, Ndlovu will work under the guidance of the ARC Ltd Board in both defining and implementing the company’s strategic vision, and will also be accountable for its financial sustainability.

Board Chairman, Dele Babade, commented: “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.

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“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.”

The African Risk Capacity is the provider of parametric sovereign disaster risk insurance and other support to African nations.

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