Creating value through purpose
Our purpose is to enhance the quality of life of our stakeholders
Value for AfroCentric is therefore tied to our ability to achieve this aim. We fulfil this purpose by transforming healthcare – making it more affordable and widely accessible. This drive has never been more critical.
To achieve our purpose, we determine the material matters that are central to our business.
We do this by evaluating our external operating context (see external environment), our stakeholder relationships (see our stakeholders) and the risks and opportunities arising from these (see corporate governance).
Read about the material matters that are central to our business in our material matters.
We address these material matters through our strategy.
Read about our strategy in unpacking our strategy and approach.
Our strategy informs our business model and the key performance indicators (KPIs) we use to monitor progress.
Read about our business model in our business model.
Medical aid administration, risk management and technology
3.8 MILLION LIVES UNDER MANAGEMENT
39% MARKET SHARE – SIGNIFICANT MEMBERSHIP GROWTH
SUBSTANTIAL DIGITAL AND TECHNOLOGICAL ADVANCEMENT
Pharmaceutical
LARGEST SOUTH AFRICAN COURIER PHARMACY
FULL MEDICINE SPEND CAN BE MANAGED
HIGH IMPACTON OVERALL HEALTHCARE SPEND AND SAVINGS FOR SCHEMES
ONCOLOGYMEDICINE MANAGEMENT
Corporate solutions
PRIMARY CARE
OCCUPATIONAL HEALTH
FULLY INTEGRATED WITH WELLNESS
Delivering value by transforming healthcare
The Group has invested significant financial and intellectual capital into analysing the full healthcare spend. This exploration of the challenges and risk environment has informed our approach to developing or acquiring the necessary assets and capabilities to deliver the right solutions to achieve our mission.
These efforts align with a primary United Nations Sustainable Development Goal (SDG) for the healthcare sector and a foremost target – Good Health and Well-being. Our ambitions specifically address the following target within SDG 3:
Target 3.8 of SDG 3
Achieve universal health coverage, including financial risk protection, access to quality essential healthcare services and access to safe, effective, quality and affordable essential medicines and vaccines for all.
We seek to contribute positively across all 17 SDGs (and reference several SDGs within our report). However, we recognise that in light of our purpose and mission, a focus on enhancing health and wellbeing and, more specifically, targeting broader access to healthcare aligns with our definition of value and will be our most significant contribution to sustainable development.
Our objectives also align with the National Development Plan (NDP) – Vision 2030 in its desire to develop a health system that works for everyone and produces positive health outcomes.
Health goal 8 of the NDP: Universal healthcare coverage
Everyone must have access to an equal standard of care, regardless of their income.
Our contribution to these critical goals
Optimising the healthcare value chain to enhance efficiencies and reduce healthcare costs
R2.7 BN |
R848 M |
R289 M |
R134 M |
Digitising to reduce costs and improve client experience
PHARMACY DIRECT |
ENABLED GREATER |
Positioning for success in a National Health Insurance (NHI) environment
Over the years, AfroCentric has been pursuing the diversification of our involvement in the health sector. This places the Group in a strategic position to work with government on the NHI processes as implementation progresses.
Our performance is underpinned by robust, value-enhancing governance and leadership. Read about our governance and leadership in our governance and leadership.