About AfroCentric
AfroCentric Group (the Group or the Company) is a Broad-Based Black Economic Empowerment (B-BBEE) level 1 investment holding company listed on the Johannesburg Stock Exchange (JSE). The Group owns and operates diverse healthcare-related enterprises that provide specialised medical scheme administration and deliver healthcare products and services to the public and private healthcare sectors. Sanlam Life Insurance Limited holds a controlling stake in the AfroCentric Group, fostering synergies and creating opportunities for both entities.
The principal objective of the Group is to ensure the delivery of efficient health management services and the distribution of quality products – all at a manageable and affordable cost for the benefit of its stakeholders.
AfroCentric has successfully broadened its interests in the industry by continuing to pursue new opportunities to expand and rationalise its presence across the healthcare sector.
On 1 November 2024, the Company announced on SENS that it has changed its financial year-end from 30 June to 31 December with effect from 31 December 2024, to harmonise the financial reporting requirements of the Company with those of the Sanlam Group.
The comparative figures presented are in respect of the 12 months financial year ended 30 June 2024 and as such may not be comparable to the current six months reporting period.
Economic
4.08 million
lives under our management
(six months)
(12 months to June 2024: 4.0 million lives)
(51.8%)
revenue decrease
(June 2024: 0.4% increase)
(63.8%)
decrease in operating profit
(June 2024: 0.8% increase)
(3.6%)
return on equity
(June 2024: 1.9%)
Social
Level 1
B-BBEE status
(June 2024: Level 1)
15
client medical schemes in Southern Africa
(June 2024: 15 client medical schemes)
5 899
total of all employees in SA and Africa
(June 2024: 5 944 employees)
Environmental#
24 880 kl
in water consumption
(June 2024: 30 573 kl)
4 706 MWh
in electricity consumption
(June 2024: 6 035 MWh)
247 MWh
of Self-Generated Electricity – Solar
(June 2024: N/A)
8 512 litres
of diesel (used in generators)
(June 2024: 166 810 litres)
# The environmental data collection and reporting has been expanded to include Pharma Cluster in addition to Medscheme as was reported on previously.
Value created/capital enhanced
Value eroded/capital reduced
Value preservation
Governance
The diverse backgrounds and extensive experience of our Board enhance our capability to navigate the constantly evolving operating environment (refer to Operating context).
AfroCentric integrates environmental, social and governance (ESG) factors into performance metrics.