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AFROCENTRIC GROUP
38
HOW WE CREATE VALUE
STAKEHOLDER ENGAGEMENT CONTINUED
STAKEHOLDER
GROUP
OVERVIEW
IMPACT AND ENGAGEMENT
Our clients –
medical schemes
SA schemes:
Open schemes:
Bonitas, Fedhealth,
Medshield
Closed schemes:
AECI, Barloworld, GEMS,
Horizon, MBMed, NedGroup, ParMed,
POLMED, SABC, SAMWUMED, Sasolmed
Outside SA schemes:
NAMMED, Namibia
Health Plan, Swazimed
Medical schemes choose their administrator and
health risk provider. The quality of the end-to-end
service delivered to our clients has a direct impact on
their ability to retain their customers, i.e. the scheme
members who, in turn, impact their satisfaction levels
with all Group companies.
To manage these relationships, the Group regularly
engages clients at formal meetings and through the
annual report and website. Additionally, the CEOs of
the Group and Medscheme engage regularly with
these key clients.
Shareholders,
investors
Institutional and individual investors
Shareholders affect AfroCentric by voting at
Annual General Meetings (“AGMs”) and accordingly,
AfroCentric has a duty to maximise shareholder
returns.
Engagement takes place through the annual report,
the website, trading statements and SENS
announcements.
Regulators
Council for Medical Schemes
The Council for Medical Schemes (“CMS”) is
a statutory body established by the Medical
Schemes Act 131 of 1998 to provide
regulatory supervision of private health
financing through medical schemes.
The Group’s major subsidiary, Medscheme, depends
on the CMS for the accreditation to conduct
healthcare administration and health risk
management. Any proposed amendments to benefit
options must be approved by the CMS. Medscheme
is required to provide electronic submissions of the
financial overview of each scheme, a process
managed by Group Compliance.
Engagement takes place via Group Compliance,
as required, and via annual reports and other
interactions.
Medicines Control Council
The Medicines Control Council (“MCC”)
applies standards laid down by the
Medicines and Related Substances Act,
101 of 1965, which governs the
manufacture, distribution, sale and
marketing of medicines.
The MCC regulates pharmaceutical manufacturers
and distributors. Pharmacy Direct, Curasana and
Activo Health are impacted by amendments to
regulations and must also comply with MCC
licensing requirements.
Engagement takes place through the annual report
and other interactions.
South African Pharmacy Council
The South African Pharmacy Council
(“SAPC”) is mandated to protect, promote
and maintain the health, safety and wellbeing
of patients and the public, ensuring quality
pharmaceutical service for all South Africans.
The SAPC regulates pharmacists, pharmacy support
personnel and pharmacy premises in South Africa.
Pharmacy Direct, Curasana and Activo Health have
to implement Good Pharmacy Practice and comply
with the Pharmacy Act 53 of 1974.
Engagement takes place through the annual report
and other interactions.