Lembikisa joins Yverdon Sport on-loan for the remainder of the season.
Wolves chief Matt Jackson told the club's website: “This is going to be a different type of loan for Dexter from what he experienced last year with Rotherham and Hearts, and I’m really pleased that he’s jumped at this opportunity to expand his own horizons, in a football sense and in a living sense as well.
“The Swiss league is more technical than what he’s been used to, but he showed he can play in the Championship with that frenetic pace and intensity they have, the same with the Scottish Premiership.
“But now he’s in the situation where he’s going to a slightly more technical league where it will be slower paced for him, but he will see a variation of player up against him. He’s obviously got great international experience now as well, and he’ll continue to add to that and this just becomes another part of his football development.
“We like our boys to have as many opportunities as possible and the fact that he’s so keen to go out there and try something different shows who he is as a character and what we think of him.”