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afrocentric investment corpo (ACT) Snapshot

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02/4/15 - $600.00
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06/10/14 - $395.00
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afrocentric investment corpo (ACT) Details

AfroCentric Investment Corporation Limited, an investment holding company, operates in healthcare fund management sector in South Africa. The company offers medical scheme administration products and services, including claims assessing, broker management and commissions, national branch network, healthcare provider administration, scheme contribution collections, member query management, and fund management services. It also provides health risk management services, such as hospital benefit management, medicine benefit management, disease management, network management, dental benefit management, and scheme management support services. In addition, the company offers and licenses ICT solutions, including Nexus and UMS, an integrated health administration and managed care system, as well as provides network support and Website hosting services; and provides a platform for critical patient information management. Further, it provides solutions for the management of HIV/AIDS treatments for medical aids and corporate clients. Additionally, the company offers various services to health insurance companies, including medical coding of claims, data transcription, claim adjudication, call center, network management, software development and support, and pre-authorization and guarantee of payment for inpatient claims; and financing services. AfroCentric Investment Corporation Limited was founded in 2006 and is headquartered in Roodepoort, South Africa.

3,524 Employees
Last Reported Date: 12/16/14
Founded in 2006

afrocentric investment corpo (ACT) Top Compensated Officers

Group Chief Executive, Executive Director and...
Total Annual Compensation: R4.5M
Chief Financial Officer, Financial Director a...
Total Annual Compensation: R3.0M
Executive Officer
Total Annual Compensation: R4.2M
Executive Officer
Total Annual Compensation: R3.1M
Compensation as of Fiscal Year 2014.

afrocentric investment corpo (ACT) Key Developments

Afrocentric Investment Corp Limited Announces Resignation of Wilbert Mhlanga as Company Secretary

Afrocentric Investment Corp. Limited announced that Mr. Wilbert Mhlanga has resigned as Company Secretary with effect from 31 January 2015.

Afrocentric Investment Corp., Annual General Meeting, Jan 21, 2015

Afrocentric Investment Corp., Annual General Meeting, Jan 21, 2015., at 10:00 South Africa Standard Time. Location: The Bonitas Marketing Company Offices. Agenda: To consider the re-election of non-executive directors; to consider the re-appointment of members of the audit and risk committee; to consider the re-appointment of joint external auditors and designated auditors; to consider the authority of directors and/or company secretary to sign documents; to consider the general authority to issue ordinary shares, and to sell treasury shares for cash; to consider the endorsement of the remuneration policy; to consider the approval of non-executive director’s remuneration; to consider the general approval to repurchase shares; and to consider the Inter-company loans and other financial assistance.

Afrocentric Investment Corp. Declares Dividend for the Year Ended June 30, 2014, Payable on December 1, 2014; Announces Audited Consolidated Earnings Results for the Year Ended June 30, 2014

The Board of Directors of Afrocentric Investment Corp. declared dividend of 18 cents per ordinary share (gross) for the year ended June 30, 2014, payable on December 1, 2014, record date is November 28, 2014 and ex-dividend date is November 24, 2014. The company announced audited consolidated earnings results for the year ended June 30, 2014. For the year, revenue was ZAR 1,958,260,000 against ZAR 1,770,330,000 a year ago. Operating profit was ZAR 356,357,000 against ZAR 333,657,000 a year ago. Profit before impairment and amortisation was ZAR 378,483,000 against ZAR 324,555,000 a year ago, increased by 16.6%. Profit before income tax was ZAR 246,436,000 against ZAR 270,857,000 a year ago. Profit attributable to equity holders of the parent was ZAR 153,823,000 or 40.00 cents diluted per share against ZAR 163,570,000 or 36.11 cents diluted per share for the same period a year ago. Net profit for the period was ZAR 153,823,000 against ZAR 163,570,000 for the same period a year ago. Headline earnings were ZAR 183,945,000 or 47.93 cents diluted per share against ZAR 129,637,000 or 28.62 diluted per share for the same period a year ago. Net cash inflow in operating activities was ZAR 141,941,000 against ZAR 227,080,000 a year ago.


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