The African Risk Capacity (ARC) Limited has appointed Mr Lesley Ndlovu as its new Chief Executive Officer following the expiration of the tenure of Ms Dolika Banda.

A press statement for the ARC office in Johannesburg, South Africa, said the appointment takes effect from March 1.

The ARC Ltd is a financial affiliate of the ARC, which is a Specialised Agency of the African Union established to assist member states in tackling the impact of natural disasters on vulnerable people.

Mr Ndlovu was the former CEO of AXA Africa Specialty Risks, a Lloyd’s of London insurance syndicate. He 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 United Kingdom.

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

Mr Ndlovu is a graduate of the University of Oxford in England and at the Institut Européen d'Administration des Affaires (INSEAD) in France. He is a CFA charter holder, a member of the Institute of Chartered Accountants of England & Wales and a member of the Institute of Directors.