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INTEGRATED REPORT 2017
BROAD-BASED BLACK
ECONOMIC EMPOWERMENT
B-BBEE is an integrated and coherent socioeconomic process
that directly contributes to the economic transformation of
South Africa, and reduces inequality by significantly increasing
the number of black people that manage, own and control the
country’s economy. Since the inception of the B-BBEE Codes
of Good Practice, in 2007, AfroCentric has been actively aiming
to adjust and adapt to the ever-changing landscape of B-BBEE,
devising compliance strategies and implementing the strategies
to support business growth in terms of our mission while
concurrently improving compliance with the requirements of the
BEE codes.
Our sustained improvement on the Broad Based Black
Economic Empowerment scorecard demonstrates our
commitment to driving transformation in our Company and in
the way in which we do business.
In 2016, AHL commissioned Honeycomb to conduct a B-BBEE
verification of the organisation. Honeycomb’s mandate was to
assess, verify and validate both disclosed and undisclosed
B-BBEE-related information of AHL. The B-BBEE rating was
based on the Codes of Good Practice on Black Economic
Empowerment released by the dti in October 2013. The Group
performs quarterly calculations to project its possible B-BBEE
accreditation level ahead of the official verification, which is
scheduled for November 2017. The 2017 figures in the
accompanying graphs are based on these projections.
AHL is a broad-based entity and was therefore measured on
all of the five elements of B-BBEE –Ownership, Management
Control, Skills Development, Enterprise and Supplier
Development, and Socio-Economic and Sector Specific
Contributions.
Honeycomb followed a rigorous verification process that is
aligned to best practice verification standards, the dti Codes of
Good Practice and the South African National Accreditation
System. Honeycomb obtained data and information relating to
the elements of the B-BBEE Scorecard, interviewed senior
management and personnel of AHL, and verified supporting
documents.
All the information used for the verification was obtained from
AHL and the conclusions are based on this information. Based
on the information provided and subject to the terms of the
verification, AHL maintained its level 2 B-BBEE status, whilst
improving on the score achieved in FY 2015/2016. The
Certificate is valid until December 2017
0
10
20
30
40
50
60
70
80
90
100
2017
2016
2015
2014
2013
2012
2011
80.33
91.29
91.07
89.01
95.9
97.37
99.04*
HISTORICAL B-BBEE PERFORMANCE (POINTS)
New
codes
New
codes
AHL historical
B-BBEE
performance
2017 indicative
score
* Group-projected FY 2017 indicative score.
OWNERSHIP
AfroCentric Health proprietary limited, is a wholly owned
subsidiary of AfroCentric Investment Corporation Limited. The
ownership credentials of AfroCentric Investment Corporation
Limited are therefore directly attributable to those of AfroCentric
Health.
0
5
10
15
20
25
30
2017
2016
2015
2014
25
22
25
25
25
25
25
25*
OWNERSHIP (POINTS)
Maximum points
available
AHL score
2017 indicative
score
* Group-projected FY 2017 indicative score.