Why materiality matters to AfroCentric
Our materiality process identifies the matters that substantively affect AfroCentric’s ability to create and preserve value and mitigate value erosion over the short, medium and long term, as well as the matters through which our business has the most significant impacts on the economy, society and the environment. These matters shape how we assess our operating context, make strategic decisions, allocate resources, manage risk and report on performance.
How we determine our material matters
For 2025, we refined our materiality assessment to strengthen alignment with current best practice and to ensure that this integrated report remains focused on the issues most relevant to our strategy, business model, stakeholders and long-term prospects. In doing so, we considered materiality through a double materiality lens. This means that we assessed both the significance of matters to AfroCentric’s ability to create and preserve financial value over time, and the significance of AfroCentric’s impacts on people, society and the environment.
This approach strengthens our transparency, supports responsible healthcare stewardship, and provides stakeholders with a richer understanding of AfroCentric’s role and influence within the broader health ecosystem.
Our process can be summarised in three stages:
Identify
We began by assessing the external environment, stakeholder expectations, strategic priorities, and the risks and opportunities that may influence AfroCentric’s ability to create value over time. Our assessment process drew on a range of internal and external inputs. These included our prior year material matters, the Group risk register, peer and sector analysis, investor and stakeholder perspectives, selected internal reports, media and market insights, macroeconomic and healthcare sector trends, the Group’s refreshed strategy and business model, and applicable reporting guidance. This allowed us to assess if the issues disclosed in previous periods remained relevant, whether their context needed refinement, and if any additional matters should be included to better reflect current and future realities.
This step ensures that our materiality process is rooted in a comprehensive understanding of our context.
Prioritise
Potential material matters were reviewed, tested, and ranked based on their significance from both financial and impact perspectives. A structured materiality workshop formed a core part of this stage. Participants assessed each proposed matter for relevance, areas of overlap or omission, strategic connectivity and overall importance to decision-making. The exercise confirmed the continued relevance of previously disclosed matters and supported refinement of wording, emphasis and ordering.
Integrate
Once finalised, our material matters are embedded into our strategy, risk management processes and governance oversight. They serve as the organising lens for our integrated report and guide how we communicate AfroCentric’s ability to create and preserve value over time.
The material matters identified for 2025 reflect the realities of AfroCentric’s operating environment. They highlight the need to improve access to affordable, quality healthcare; respond to evolving market and regulatory dynamics; strengthen operational resilience; accelerate digital transformation; safeguard information assets; attract and retain critical skills; maintain stakeholder trust; and ensure financial resilience. They also acknowledge the importance of responsible environmental stewardship and the broader economic, political, geopolitical and societal developments shaping our business and the communities we serve.
How materiality shapes this report
In line with the principles of integrated reporting, we have used our material matters to shape the narrative of this report. For each material matter, we explain why it is important in the current year, how it links to strategy and risk, how we are responding, and where related information can be found elsewhere in the report. This is intended to strengthen connectivity across the report and to provide stakeholders with a clearer understanding of the issues that matter most to AfroCentric’s ability to create and preserve value while mitigating value erosion where possible.
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Description |
Expanding access to quality healthcare services and affordable medicine remains AfroCentric’s most material matter. It is central to the Group’s purpose and strategy, particularly in a context of rising healthcare costs, affordability pressures, service gaps and the need for more integrated, outcomes-led care. This matter reflects AfroCentric’s role in improving access, strengthening healthcare coordination and supporting better health outcomes across public and private settings. |
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Strategic objectives |
Building a winning health offering in partnership with Sanlam; Strengthening managed care leadership through clinically driven innovation. |
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Related risks |
Execution risk – winning health offering | Execution risk – managed care leadership through clinical innovation | Regulatory uncertainty – NHI. |
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Key stakeholders |
Clients | Employees | Government and regulators | Industry bodies | Shareholders and investors. |
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Related capitals 
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How this matter is covered in this report
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Description |
Business continuity and adaptation reflects AfroCentric’s need to remain resilient and responsive in a changing operating environment. This includes protecting service delivery, maintaining operational continuity and adapting to external developments, such as industry consolidation and market shifts. In 2025, this matter became more pronounced as the Group responded to a materially changed operating context and recalibrated elements of its strategic approach. |
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Strategic objectives |
Building a winning health offering in partnership with Sanlam; Strengthening managed care leadership through clinically driven innovation; Investing in data, digital and technology; Evolving our culture and operating model to support the growth strategy. |
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Related risks |
Concentration risk | Stakeholder relationship management | System stability and availability | Profit and earnings optimisation. |
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Key stakeholders |
Clients | Employees | Shareholders and investors. |
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Related capitals
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How this matter is covered in this report
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Description |
Digital transformation and resilience remains a key material matter as digital, data and technology capabilities are increasingly foundational to cost-effective healthcare delivery, operational efficiency, innovation and client service. This matter reflects AfroCentric’s continued investment in healthcare technology platforms, enterprise data capability and digital engagement, as well as the need to ensure these systems are resilient, scalable and aligned to a more integrated health platform model. |
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Strategic objectives |
Investing in data, digital and technology. |
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Related risks |
Execution risk – data strategy | System stability and availability. |
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Key stakeholders |
Clients | Employees | Shareholders and investors. |
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Related capitals
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How this matter is covered in this report
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Description |
Legal, regulatory and compliance management remains material given the highly regulated environment in which AfroCentric operates. This matter reflects the need to comply with laws, policies and regulatory requirements while proactively managing compliance risks, maintaining strong governance and responding to an evolving healthcare policy landscape. Its significance is heightened by ongoing regulatory developments and increased industry scrutiny. |
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Strategic objectives |
Evolving our culture and operating model to support the growth strategy. |
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Related risks |
Regulatory uncertainty – NHI Act | Regulatory burden and compliance risk. |
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Key stakeholders |
Clients | Employees | Government and regulators | Industry bodies | Shareholders and investors. |
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Related capitals
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How this matter is covered in this report
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Description |
Sustainable financial performance is critical to AfroCentric’s ability to invest in growth, absorb change, protect resilience and continue delivering value to clients, members, shareholders and other stakeholders. This matter reflects the need to strengthen the Group’s market position and financial sustainability by anticipating industry trends, meeting evolving client needs and differentiating services in a competitive and regulated environment. |
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Strategic objectives |
Building a winning health offering in partnership with Sanlam; evolving our culture and operating model to support the growth strategy. |
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Related risks |
Concentration risk | Profit and earnings optimisation | Execution risk – winning health offering. |
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Key stakeholders |
Clients | Employees | Shareholders and investors. |
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Related capitals
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How this matter is covered in this report
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Description |
Cybersecurity and information security is material because AfroCentric’s ability to deliver trusted, resilient healthcare services depends on secure systems, protected data and stable technology infrastructure. As the Group deepens digital enablement and data integration, the need to protect systems and data against breaches and disruptions becomes increasingly important. This matter underpins stakeholder trust, service continuity and operational resilience. |
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Strategic objectives |
Investing in data, digital and technology. |
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Related risks |
System stability and availability | Execution risk – data strategy. |
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Key stakeholders |
Clients | Employees |Government and regulators | Industry bodies | Shareholders and investors. |
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Related capitals
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How this matter is covered in this report
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Description |
Member satisfaction remains a core material matter because the quality of AfroCentric’s service delivery, healthcare experience and health outcomes directly influences loyalty, trust, competitiveness and long-term sustainability. This matter reflects the need to exceed member expectations by delivering high-quality service while improving health outcomes and promoting wellness through more integrated and preventative healthcare solutions. |
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Strategic objectives |
Building a winning health offering in partnership with Sanlam; strengthening managed care leadership through clinically driven innovation. |
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Related risks |
Stakeholder relationship management | Execution risk – winning health offering | System stability and availability. |
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Key stakeholders |
Clients | Employees | Government and regulators | Industry bodies | Shareholders and investors. |
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Related capitals
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How this matter is covered in this report
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Description |
Employee wellbeing and retention is material because AfroCentric’s ability to execute its strategy, innovate and maintain service quality depends on attracting, developing and retaining the right skills. In a healthcare environment shaped by digital change, transformation and rising service expectations, workforce capability, resilience and engagement remain essential. This matter also extends to building a workforce equipped for future healthcare needs. |
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Strategic objectives |
Evolving our culture and operating model to support the growth strategy. |
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Related risks |
Talent management. |
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Key stakeholders |
Clients | Employees | Government and regulators | Shareholders and investors. |
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Related capitals
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How this matter is covered in this report
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Description |
Ethical business conduct and good governance remain material because it underpins stakeholder trust, strategic oversight and the integrity of decision-making across the Group. This includes upholding high standards of ethical behaviour, transparency and governance, including Board effectiveness, remuneration and broader governance practices. In a complex and regulated operating environment, strong governance supports legitimacy, resilience and long-term sustainability. |
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Strategic objectives |
Evolving our culture and operating model to support the growth strategy. |
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Related risks |
Regulatory burden and compliance risk | Stakeholder relationship management. |
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Key stakeholders |
Clients | Employees | Government and regulators | Industry bodies | Shareholders and investors. |
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Related capitals
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How this matter is covered in this report
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Description |
This material matter recognises that AfroCentric’s performance and prospects are shaped not only by internal execution, but also by broader external forces. Economic pressures, transformation imperatives, political developments, geopolitical uncertainty and wider societal trends all influence affordability, demand, regulation, stakeholder expectations and business resilience. It reflects the need to remain responsive to the broader system in which AfroCentric operates. |
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Strategic objectives |
Building a winning health offering in partnership with Sanlam; evolving our culture and operating model to support the growth strategy. |
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Related risks |
Regulatory uncertainty – NHI Act | Profit and earnings optimisation | Concentration risk | Regulatory burden and compliance risk | Stakeholder relationship management | Talent management related risk. |
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Key stakeholders |
Clients | Employees | Government and regulators | Industry bodies | Shareholders and investors. |
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Related capitals
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How this matter is covered in this report
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Description |
Pollution, waste and climate impacts remain material as AfroCentric continues to strengthen our understanding of the environmental impacts associated with our operations and value chain. They remain relevant to responsible stewardship, long-term resilience and the evolving expectations of stakeholders and reporting frameworks. This combined material matter reflects the need to manage pollution and waste responsibly while considering transition and physical climate-related impacts in an appropriate business context. |
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Strategic objectives |
Evolving our culture and operating model to support the growth strategy. |
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Related risks |
Climate change is recognised as a strategic risk that continues to be monitored; however, it currently falls outside the Group’s top ten risks. |
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Key stakeholders |
Clients | Employees | Government and regulators | Industry bodies | Shareholders and investors. |
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Related capitals 
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How this matter is covered in this report
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