AfroCentric Group Integrated Annual Report 2017

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AFROCENTRIC GROUP 2
ABOUT THIS REPORT
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
page 18.
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.
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 pages 26 and 27.
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
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.