In this section
|Transformation is a strategic enabler for AfroCentric to achieve its vision of creating sustainable healthcare. It enables us to drive sustainability for all of our stakeholders.|
There are a number of societal issues in South Africa such as imbalances in career, educational and economic opportunities. B-BBEE directly addresses economic transformation in South Africa by increasing the number of black people that manage, own and control the country's economy.
AfroCentric's transformation framework supports the national strategic priorities and our own social impact agenda. The Group adheres to the South African Government's B-BBEE policies and other transformation-related legislation such as, but not limited to the:
- National Development Plan 2030;
- National Strategy for Broad Based Black Economic Empowerment;
- Revised Broad Based Black Economic Empowerment Act 53 and related amendments;
- Amended Codes of Good Practice on Broad Based Black Economic Empowerment of 2013;
- Employment Equity Amendment Act of 2014 and related regulations; and
- Skills Development Act and related Skills Development Levies Act.
At AfroCentric, we aim to transcend compliance and go beyond the numbers for transformation, while adhering to the spirit of the B-BBEE Codes. We have several structures that debate, critique and approve the transformation initiatives. The Board and the AfroCentric Health Group Executive Committee support these structures, primarily through the following committees:
- Transformation Steering Committee
- Social and Ethics Committee
- Enterprise and Supplier Development Committee
Our level of compliance with the B-BBEE scorecard demonstrates our commitment to driving transformation within the Group and in the way in we do business.
B-BBEE contributor status – historical scorecard comparison
|Enterprise and supplier development||40||41.65||41||38.21||37.75|
|Total and B-BBEE level||Level 11||Level 2||Level 2||Level 2|
|1||The 2018 B-BBEE level is projected through the Group's quarterly reviews. The B-BBEE verification process is conducted in November 2018 by Honeycomb BEE Ratings Proprietary Limited.|
|2||Weighting includes bonus points.|
|AHL ownership profile (30 June 2018)||20181||2017||2016|
|Exercisable voting rights by black people that flow through to AHL||80.22%||80.22%||34.51%|
|Exercisable voting rights by black women||9.42%||9.42%||13.46%|
|Entitlement to economic interest by black people that flows through to AHL||80.22%||80.22%||34.51%|
|Entitlement to economic interest by black women||9.42%||9.42%||13.46%|
|Economic interest that flows through to black designated groups||14.00%||14.00%||13.79%|
|Involvement of ownership of the enterprise of new black entrants||11.03%||11.03%||13.57%|
|1||The 2018 figures are projected through the Group's quarterly management reviews. The verification process will be conducted in November 2018 by an external provider, Honeycomb BEE Ratings Proprietary Limited.|
EE is driven as part of compliance with the EE Act. This involves compiling a five-year plan, and setting quantifiable targets for each race, gender and employment category. Progress is measured and reported annually to the Department of Labour.
AfroCentric's EE plan outlines our own targets for EE. These add to the universal targets for EE compliance under the B-BBEE Codes by including a measure for the representation of black disabled employees among the Group's total employees. The Company uses these targets to measure its EE performance for the EE element under the B-BBEE Codes.