Transformation and B-BBEE
As a black-owned company and the most transformed health-related business listed in South Africa, we are committed to corporate citizenship, driving transformation and upholding our social licence to operate. The Group invests in healthcare-related companies, and our contribution to healthcare extends beyond our products and services. Our social impact starts within the Group and extends to the suppliers and communities we directly impact and the broader society affected by our health management initiatives. We value diversity, equity and inclusion at AfroCentric and aim to create an environment where differences are not only valued, but accepted and included, as demonstrated by our diverse workforce and supply chain.
B-BBEE creates opportunity while mitigating operating environment risk
Level 1 B-BBEE contributor status
AfroCentric's transformation framework supports national strategic priorities and our purpose of creating sustainable healthcare solutions to enhance our stakeholders' quality of life.
The degree of the Group's alignment of B-BBEE policies and practices to the requirements of the different transformation-related legislation in support of the South African Government's overall economic transformation includes, but is not limited to:
- The National Development Plan 2030
- The National Strategy for Broad-Based Black Economic Empowerment
- The Revised Broad-Based Black Economic Empowerment Act 53 and related amendments
- The Amended Codes of Good Practice on Broad-Based Black Economic Empowerment of 2013
- The Employment Equity Amendment Act of 2014 and associated regulations
- Skills Development Act and related Skills Development Levies Act
- The Preferential Procurement Act
Element |
Weighting | 2022 | 2021 | 2020 |
| Equity ownership | 25.00 | 25.00 | 25.00 | 25.00 |
|---|---|---|---|---|
| Management control | 19.00 | 14.01 | 12.39 | 12.69 |
| Skills development | 25.00 | 14.47 | 14.97 | 20.10 |
| Enterprise and supplier development | 44.00 | 40.59 | 43.69 | 39.28 |
| SED | 5.00 | 5.00 | 5.00 | 5.00 |
| Total | 118.00 | 99.07 | 101.05 | 102.07 |
| B-BBEE level | Level 2 | Level 1 | Level 1 |
ACT ownership profile (July 2021) |
2022 | 2021 | 2020 |
| Black exercisable voting rights | 50.28 | 51.17 | 45.72 |
|---|---|---|---|
| Black exercisable voting rights by black females | 16.45 | 15.07 | 11.05 |
| Black entitlement to economic interest | 50.18 | 51.17 | 45.72 |
| Entitlement to economic interest by black women | 16.39 | 15.07 | 11.05 |
| Economic interest that flows through to black designated groups | 11.63 | 5.13 | 4.97 |
| Involvement of ownership of the enterprise of black new entrants | 2.24 | 2.58 | 2.14 |
The 2021 B-BBEE certificate issued on 17 December 2021 is valid until 16 December 2022