Sanlam has written down its investment in healthcare management group AfroCentric to nil after medical scheme Bonitas moved to end its relationship. Yet, the insurer insists there is still value to extract. The stake will stay. Sanlam CEO Paul Hanratty ruled out any sale. Sanlam owns 60% of AfroCentric, a holding it took three years ago and which has so…
Tag: Afrocentric
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FHC Targets Sterile Injectables Market After Activo Health Buy
Portuguese pharmaceutical group FHC will use its acquisition of Activo Health to build its African footprint, beginning with a push into South Africa’s sterile injectables market, senior executives said yesterday. The privately held group bought Activo Health from JSE-listed Afrocentric. FHC owns Laboratórios Basi, a drugmaker based in Mortágua, Portugal, which reported turnover of about €543m (roughly R10bn) in 2025.…
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AfroCentric Results Show Revenue Surged Significantly
AfroCentric Investment Corporation has released its financial results for the year ending December. The JSE-listed healthcare giant reported a massive spike in revenue. However, the group also faced a significant basic loss. This was primarily due to heavy asset impairments and strategic business disposals. Massive Revenue Growth For AfroCentric The group’s continuing operations showed exceptional top-line growth. Total revenue climbed…
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Bonitas Tender Dispute: Court Action and Tender Controversy
South Africa’s second-largest open medical scheme, Bonitas, is opposing an urgent court application by Medscheme to block the appointment of two new service providers. The Bonitas Tender Dispute centres on Bonitas’ decision to end a 44-year administration relationship with Medscheme. Medscheme has served as its administrator since 1982. Bonitas, which covers more than 730,000 people, has appointed Momentum to take…
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Bonitas Medscheme Split Sees Momentum and PHA Win Contracts
The Bonitas Medscheme Split has become a major topic in the South African healthcare sector. Bonitas Medical Fund, South Africa’s second-largest open medical scheme, has confirmed a major supplier shake-up. It will end its long-running administration relationship with Medscheme and hand key roles to Momentum Health and Private Health Administrators (PHA). The changes cover all Bonitas options except Boncap, its…
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Medscheme Bonitas Legal Battle Over RFPs Escalates Amid Probe
A critical legal dispute is unfolding in South Africa’s private healthcare sector. Medscheme has filed an urgent application with the Johannesburg High Court to suspend or terminate several Requests for Proposals (RFPs) issued by Bonitas Medical Fund. Furthermore, the dispute signals deepening tensions between long-standing partners in the administration of the country’s second-largest open medical scheme. Medscheme Bonitas Legal Battle…
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AfroCentric Divests Activo Health In Strategic Shift Toward Services
AfroCentric Investment Corporation, a Johannesburg Stock Exchange-listed healthcare firm, has announced the sale of its pharmaceutical unit, Activo Health, to Portuguese pharmaceutical giant FHC Group. This sale marks a pivotal shift in AfroCentric’s operational focus. The group is moving away from pharmaceutical manufacturing and marketing. AfroCentric Divests Activo Health In Portfolio Overhaul AfroCentric’s subsidiary, ACT Healthcare Assets, entered into an…
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AfroCentric’s JSE Collapse Fuels a New Healthcare Empire
As insurance giant Sanlam tightens its grip on health-fin services specialist AfroCentric, the line between public company and private control has all but vanished. What remains is a powerful lesson in strategic patience. It reveals how corporations (or businesses) can methodically turn market neglect into a corporate opportunity. While AfroCentric still technically trades on the JSE, its story is no…
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Bonitas Faces Investigation for Procurement Irregularities
The Council for Medical Schemes (CMS) has officially launched a forensic investigation into Bonitas, the nation’s second-largest open medical scheme. Bonitas faces investigation over allegations of improper procurement processes related to a key contract for its low-income option. The investigation will focus specifically on a contract awarded by Bonitas to Private Health Administrators (PHA) for the administration of its Boncap…
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Governance at Bonitas raises serious concerns
The growing unease surrounding the governance of Bonitas, South Africa’s second-largest medical scheme, continues to deepen. Recent responses from Bonitas and the Council for Medical Schemes (CMS) have done little to quell concerns about questionable practices. Instead of offering transparency, they appear to be dodging key allegations, leaving stakeholders with more questions than answers. Bonitas’s recent decisions, particularly regarding its…