HOW WE CREATE VALUE

STAKEHOLDERS

The Group’s success and future prospects depend on our stakeholders’ continued support.

AfroCentric recognises its stakeholders as those individuals and groups who have an interest in, or who are affected by, our activities. Our stakeholders determine the Group’s long-term sustainability and value creation prospects. They range from our employees to the external bodies that influence us. They are connected by the groups that we engage with regularly – these ‘connected’ groups form the bulk of our engagement and business activities.

Our Board and executive management employ an inclusive approach to stakeholders’ interests and mutual value. We engage our stakeholders responsively, constructively, collaboratively and transparently to address their material needs, interests and expectations.

Our stakeholders
AFROCENTRIC EMPLOYEES

The Group’s employees who perform core functions within the organisation.
OUR CLIENTS – MEDICAL SCHEMES

Open schemes:
Bonitas, Fedhealth, Medshield, Hosmed

Closed schemes:
AECI, Barloworld, GEMS, Horizon, MBMed, NedGroup, ParMed, OMSMAF, POLMED, SABC, SAMWUMED, Sasolmed

Outside SA schemes:
NAMMED, Namibia Health Plan, Sovereign Health

  
SCHEME MEMBERS

The schemes’ members.

  
TRADE SUPPLIERS

The vendors who support our business.
 
BROKERS

Brokers are licensed and regulated agents that assist members to enrol for the appropriate medical cover through our schemes.

  
SHAREHOLDERS AND INVESTORS

Institutional and individual investors.
   
TRADE UNION

The National Education, Health and Allied Workers Union (NEHAWU) is the union for workers from the education, health, government and social welfare sectors.
REGULATORS

The organisations which monitor and regulate our environment

  • Council for Medical Schemes
  • Medicines Control Council
  • South African Pharmacy Council
  • The Johannesburg Stock Exchange
  • Competition Commission
  
INDUSTRY BODIES

The bodies which oversee healthcare-related matters

  • Body of Healthcare Funders of Southern Africa
  • HPCSA
  • Hospital Association of South Africa
  • Doctor’s Health Council
  • Public Health Enhancement Forum
  
GOVERNMENT

Government sets out healthcare policies that create the framework within which we operate.

Key stakeholder engagement themes

We respect our stakeholders’ diverse range of concerns and we aim to respond strategically. Transformation; lowering healthcare costs and enhancing accessibility; value creation and sustainability; and compliance were the key themes of the Group’s various stakeholder engagements.

Transformation

 

Areas of interest

  • B-BBEE level – maintain a level 2
  • Procurement opportunities
  • Transformation at senior level
    

Stakeholders impacted

  • Suppliers
  • Clients
  • Government
  • Employees
    

Strategic response

  • Promote transformation
  • Uplift our people
  

Lowering healthcare costs and enhancing accessibility

 

Areas of interest

  • Universal access to quality healthcare
  • Affordability of private healthcare
  • Fraud, waste and abuse
  • Our schemes’ value proposition: incentives, rewards and benefits
  • Standardising efficient and quality healthcare services for all individuals
  • Compliance and adhering to licensing requirements and competition regulations
    

Stakeholders impacted

  • Clients
  • Schemes’ members
  • Brokers
  • Government
  • Regulators
    

Strategic response

  • Reduce the cost of healthcare
  • Improve efficiencies through cost consciousness
  • Deliver exceptional client service
  

Profitability and sustainability

 

Areas of interest

  • Improved integration and returns from new acquisitions
  • Enhance IT capabilities
  • Good corporate governance
  • Dividends
  • Job stability/employee wellness and relations
  • Growth of the business
  • Remuneration and rewards
  • Efficient capital allocation
    

Stakeholders impacted

  • Shareholders and investors
  • Employees
    

Strategic response

  • Enhance shareholder value
  • Uplift our people
  • Diversify revenue sources
  • Maximise growth opportunities
  

Compliance

 

Areas of interest

  • Compliance and adherence to licensing requirements and competition regulations
  • Delivering according to the service level agreement
    

Stakeholders impacted

  • Regulators
  • Government
  • Clients
    

Strategic response

  • Enhance shareholder value
  • Uplift our people
  • Diversify revenue sources
  • Maximise growth opportunities