ABOUT THIS REPORT

AfroCentric Investment Corporation Limited (“AfroCentric”, “the AfroCentric Group”, or “the Group”) is pleased to present its Integrated Report (“report”) for the year ended 30 June 2017. This report is primarily addressed to our current and prospective investors and other relevant stakeholders.

This report aims at transparency, and to provide insight into our governing body’s activities and our business model, material matters, strategy, performance, and future prospects. It also aims to address our key objective of facilitating quality healthcare services to our clients (“schemes”) through a wide range of service offerings.

Value

We define value as the ability to use our resources to sustain financial returns, transform the lives of our key stakeholders, and ensure the preservation of our
natural environment.

SCOPE AND BOUNDARY

This report builds on our 2016 Integrated Report and presents the financial and non-financial performance of AfroCentric for the period from 1 July 2016 to 30 June 2017. Any material events between this date and the report’s approval by the Group’s Board of Directors on 14 September 2017 are also included. There have been no significant changes to the scope, boundary or measurement methods applied in this report since the 2016 Integrated Report. Any restatements to comparatives have been highlighted as such in the relevant section.

The Group operates primarily in South Africa, and has established footprints in Namibia, Zimbabwe, Botswana, Kenya, Swaziland and Mauritius.

Overview of the Group’s companies and subsidiaries.

REPORTING APPROACH

The content of this report is aligned to the principles of the International Integrated Reporting Council’s (“IIRC”) Integrated Reporting <IR> Framework, and other applicable frameworks and regulations for financial and non-financial reporting as listed in the reporting suite.

MATERIALITY

Materiality

AfroCentric’s definition of materiality is derived from the IIRC’s <IR> Framework. The Group’s material matters are those matters that substantively affect our ability to create value over the short, medium and long term.

Group members prepared this report to concisely provide balanced, reliable, transparent and relevant information that management deems material to our current and prospective investors and other relevant stakeholders.

Group materiality determination process.

FEEDBACK

We are committed to communicating effectively with our stakeholders, and we value feedback on the relevance and quality of this report. Any questions or requests for additional information relating to our report can be directed to: Nosipho Phewa on investor-relations@afrocentric.za.com or telephone: 011 671 2475

FORWARD-LOOKING STATEMENTS

Certain statements in this document may constitute “forward-looking statements”. Such forward-looking statements involve known and unknown risks, uncertainties and other important factors that could result in the actual performance or achievements of AfroCentric and its subsidiaries being materially different from future results, performance or achievements expressed or implied by such forward-looking statements. The AfroCentric Group undertakes no obligation to update publicly or release any revisions to these forward-looking statements to reflect events or circumstances after the date of publication of this report, or to reflect the occurrence of anticipated events. These have not been reviewed or reported on by the Group’s auditors.

REPORTING SUITE

The Integrated Report should be read in conjunction with the Group Annual Financial Statements. The content of each is outlined in the table below.

REPORT	INTEGRATED REPORT	GROUP ANNUAL FINANCIAL STATEMENTS
Content	An overview of the Group’s business model, stakeholder engagement, material matters and strategy Performance and prospects Operational reviews A corporate governance report A Remuneration Committee report The Notice of Annual General Meeting A form of proxy	Full audited Group annual financial statements for the financial year ended 30 June 2017 Directors’ report Independent auditor’s report Audit and Risk Committee report
Applicable frameworks/ guidelines	IIRC Integrated Reporting <IR> Framework JSE Listings Requirements King Report on Governance for South Africa 2009 (“King III”) The Companies Act 71 of 2008, as amended	International Financial Reporting Standards (“IFRS”) SAICA Financial Reporting Guides as issued by the Accounting Policies Committee The Financial Pronouncements as issued by the Financial Reporting Standards Council The Companies Act 71 of 2008, as amended
Assurance	Management and governance oversight Board oversight and approval Broad-based black economic empowerment verification (Empowerdex (Pty) Ltd) Carbon footprint verification (Promethium Carbon) Note: No independent assurance was obtained on the report as a whole.	Internal controls Management and governance oversight Internal audit Unmodified external audit opinion (PricewaterhouseCoopers Inc.)
	Reports are available online at www.afrocentric.za.com/cd-ar-reports.php, and physical copies can also be requested from the Group Investor Relations office (Nosipho Phewa on investor-relations@afrocentric.za.com).

BOARD APPROVAL

The Board recognises its responsibility to ensure the integrity of the Integrated Report. The directors have applied their collective mind to the report’s content and believe that it addresses all material matters, and fairly presents the integrated performance of the Group. The directors believe that this report has been prepared in accordance with the IIRC <IR> Framework. The Audit and Risk Committee, which has oversight and responsibility for integrated reporting, recommended the report for approval by the Board of Directors.

This AfroCentric Group 2017 Integrated Report was approved for release on 14 September 2017.

On behalf of the Board:

Dr Anna Mokgokong
Chairperson

Antoine van Buuren
Group Chief Executive Officer

Hannes Boonzaaier
Group Chief Financial Officer