“ACT” AfroCentric Investment Corporation Limited
“AfroCentric” or “ the Company” AfroCentric Investment Corporation Limited – the Group holding company
“AGM” Annual General Meeting
“AHA” ACT Healthcare Assets (Pty) Ltd
“AHL” AfroCentric Health (Pty) Limited
“B-BBEE” Broad-based Black Economic Empowerment
“CEO” Chief Executive Officer
“CFO” Chief Financial Officer
“CMS” Council of Medical Schemes
“COID” Compensation of Occupational Injuries and Disease
“CSI” Corporate Social Investment
“DBC” Documentation based care
“ED” Enterprise Development
“ERMF” Enterprise Risk Management Framework
“ICT” Information and Communications Technology
“IFM” Insurance Fraud Manager from FICO
“IFRS” International Financial Reporting Standards
“IIRC” International Integrated Reporting Council
“JSE” JSE Limited
“King III” King Report of Corporate Governance of South Africa 2009
“LGRC” Legal, Governance, Risk and Compliance
“MCC” Medicines Control Council
“MD” Managing Director
“MOI” Memorandum of Incorporation which comprises the Company’s existing memorandum of association and its articles of association
“NEHAWU” National Education Health and Allied Workers Union
“NHI” National Health Insurance
“SADC” Southern African Development Community
“Sanlam” Sanlam Life Insurance Limited
“SED” Socio-economic development
“the Board” The Board of Directors of AfroCentric Investment Corporation Limited
“the Companies Act” The Companies Act (Act No 71 of 2008)
“the current period” The year ended 30 June 2016
“the current year” The year ended 30 June 2016
“the Group” AfroCentric Investment Corporation Limited, its subsidiaries and associates
“the previous year” or “the prior year” The year ended 30 June 2015
“the year” or “the year under review” The year ended 30 June 2016
“WAD Acquisition” Pharmacy Direct (Pty) Limited, Curasana Wholesaler (Pty) Ltd, 26 % interest in Activo Health (Pty) Ltd
“WAD” WAD Holdings (Pty) Ltd