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