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Executive Committee diversity

In support and maintenance of our current B-BBEE level scoring, our Executive Committee diversity is as follows:

Racial diversity (%)
Gender diversity (%)
Age diversity (%)
Board deliberations 2021

The Board serves as the custodian of corporate governance and ensures that sound corporate governance principles are strictly observed and entrenched. These principles are linked to our organisational values and are therefore based on transparency, accountability, ethical management and fairness. For the year under review, the Board deliberated the following matters aligned with the Group’s adopted strategy:

BOARD SUCCESSION AND STRUCTURE

A Board effectiveness evaluation was conducted and discussed at the Nomination Committee. As a result, in terms of the skill analysis linked to the assessment and the growth of the pharmaceutical business of the Group, a dedicated Audit and Risk Committee and a board of directors for the pharma cluster were established. In addition, a further decision was taken regarding the appointment of a suitable independent Non-executive Director with the required ICT skills and experience to be made in due course.

Related strategic levers

COVID-19

Monitored the impact of COVID-19 across the business, as well as the role AfroCentric should play in partnering with government to curb the spread of COVID-19. Accordingly, the Board considered:

  • The role AfroCentric would play in the nationwide vaccination roll out, which included a partnership with Sanlam for a vaccination drive and placement of nurses across the vaccination sites
  • Work from home and employee health and safety considerations
  • Establishing a COVID-19 task team to monitor and recommend preventative measures and play an advisory role for affected employees and clients

Related strategic levers

CORPORATE TRANSACTIONS

Determining the best opportunities/growth initiatives to enable the creation of a value chain of healthcare enterprises that maximises the purchasing power of citizen’s healthcare spend. During the period, the following was discussed and approved:

  • ACT Healthcare Assets acquired the remaining 20% of the shares in Scriptpharm Risk Management
  • AfroCentric Healthcare Assets acquired 100% of the shares in the DENIS Group, which specialises in dental benefits management
  • Activo Health acquired 100% of Forrester Pharma (Exeltis SA), which specialises in manufacturing and marketing pharmaceutical products
  • AfroCentric Integrated Solutions invested in 20% of Medgap Cell Captive within the Guard Risk
  • The Group and AHL are still in negotiations with Sanlam Health for the acquisition of a gap coverbusiness that is supplementary to its current medical scheme offerings. The effective date was 1 September 2021

Related strategic levers

RISK AND STRATEGIC REVIEW

  • Risk review and adjustment to ratings and tolerance levels
  • Strategic review and related projects within the current context
  • Considered operating and financial updates

Related strategic levers

TRANSFORMATION

  • Monitored initiatives to maintain Level 1 B-BBEE status, along with a continual focus on enhancing organisational transformation at every level of the business
  • Particular focus was given to both the skills development and ownership pillars during the year

Related strategic levers

ENVIRONMENTAL, SOCIAL AND GOVERNANCE (ESG)

  • Sustainability remains paramount for the Group. Accordingly, we assessed our influence and impact on the environment and the communities in which we operate
  • Considered the growing prominence of ESG factors in investor decision-making and how the Group can enhance practices to meet current and future stakeholder needs while preparing for possible changes in compliance obligations in line with this trend
  • The Group continues to commit to sustainable development in each of its business operations while seeking to reduce our environmental impact

Related strategic levers

AFS AND INTEGRATED REPORTING

  • Ensured that the appropriate financial procedures were in place
  • Approved the interim and final dividends, having considered the solvency and liquidity status of the Company, as required
  • Approved the Integrated Report 2021

Related strategic levers

LEGAL COMPLIANCE

  • Approved the compliance framework to ensure that appropriate processes were in place concerning legal compliance
  • Ensured POPIA compliance for the Group and clients

Related strategic levers

Our strategic levers

OPTIMAL STRUCTURE

SERVICE MODEL

OUR PEOPLE

EXPLORING DISRUPTIVE MODELS

PRIMARY CARE, PRIMARY HEALTH INSURANCE AND OCCUPATIONAL HEALTH

PHARMA CLUSTER

TECHNOLOGY

OUR CLIENTS AND MEMBERSHIP GROWTH