GLOSSARY
The following key terms are provided to assist readers in understanding the terminology used within this report.
Client | Refers to the medical schemes that are AfroCentric's clients. | |
Members | Refers to the end customer. The members of the various schemes that are AfroCentric's clients. | |
ACT | AfroCentric Investment Corporation Limited | |
AfroCentric, the AfroCentric Group, the Company or the Group | AfroCentric Investment Corporation Limited – the Group holding company | |
AGM | Annual General Meeting | |
AHA | ACT Healthcare Assets Proprietary Limited | |
AHL or AfroCentric Health | AfroCentric Health (RF) Proprietary Limited | |
AHS or AfroCentric Health Solutions | AfroCentric Health Solutions Proprietary Limited | |
B-BBEE | Broad-based Black Economic Empowerment | |
CEO | Chief Executive Officer | |
CFO | Chief Financial Officer | |
CIS | Clinical Information System | |
CMS | Council of Medical Schemes | |
COID | Compensation of Occupational Injuries and Disease | |
CSI | Corporate Social Investment | |
DBC | Documentation based care | |
ED | Enterprise Development | |
ERM Framework | Enterprise Risk Management Framework | |
ICCM | Integrated Chronic Care Model | |
ICT | Information and Communications Technology | |
IFM | Insurance Fraud Manager from FICO | |
IFRS | International Financial Reporting Standards | |
IIRC | International Integrated Reporting Council | |
JSE | JSE Limited | |
King IV | King Report of Corporate Governance of South Africa 2016 | |
LGRC | Legal, Governance, Risk and Compliance | |
MCC | Medicines Control Council | |
MD | Managing Director | |
MOI | Memorandum of Incorporation which comprises the Company's existing memorandum of association and its articles of association | |
NEHAWU | National Education Health and Allied Workers Union | |
NHI | National Health Insurance | |
PoPI | Protection of Personal Information Act | |
RPA | Robotics process automation | |
SADC | Southern African Development Community | |
Sanlam | Sanlam Life Insurance Limited | |
SED | Socio-economic development | |
the Board | The Board of Directors of AfroCentric Investment Corporation Limited | |
the Companies Act | The Companies Act 71 of 2008, as amended | |
the current period | The year ended 30 June 2018 | |
the current year | The year ended 30 June 2018 | |
the Group | AfroCentric Investment Corporation Limited, its subsidiaries and associates | |
the previous year or the prior year | The year ended 30 June 2017 | |
the year or the year under review | The year ended 30 June 2017 | |
WAD Acquisition | Pharmacy Direct Proprietary Limited, Curasana Wholesaler Proprietary Limited, 26 % interest in Activo Health Proprietary Limited | |
WAD | WAD Holdings Proprietary Limited |