The curator of Sizwe Hosmed responded to critics after they launched legal efforts to liquidate her business and sequester her estate. Lebogang Mpakati, a registered business rescue practitioner, said the proceedings are private matters. She said they have no bearing on her ability to stabilise the troubled medical scheme. Mpakati is facing pressure from the scheme’s suspended board of trustees. The…
Tag: Healthcare Finance
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Afrox Unpaid Invoices: Lawsuit Exposes Provincial Health Debt
African Oxygen (Afrox), a major supplier of medical gases to South Africa’s state hospitals, has taken the national and provincial health departments to court over R360m in unpaid invoices, some dating back to 2017. The High Court action in Pretoria signals a deepening payment crisis across provincial health systems and raises fresh concerns about the stability of public hospital supply…
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CMS Industry Report 2024: Medical Schemes Face Financial Strain
The Council for Medical Schemes (CMS) has officially released its CMS Industry Report 2024. This document offers the first fully integrated review of the sector since 2022. It merges critical data on healthcare utilisation with a comprehensive financial assessment. The findings paint a picture of an industry under significant strain. Key pressures include demographic shifts, soaring hospital costs, and a…
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Digitisation Drives Netcare’s Growth with a 20.7% in HEPS
Hospital Group Netcare has delivered a robust set of full-year earnings for the year ended 30 September 2025. The group reported a significant 20.7% surge in adjusted headline earnings per share (HEPS) to 137.2 cents, underpinned by resilient demand for private healthcare and the successful execution of its digitisation strategy. Indeed, digitisation is driving Netcare’s growth, contributing significantly to these…
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Aspen Pharmacare Dispute Ends with R500m Settlement
Aspen Pharmacare is set to receive a R500m windfall following the resolution of a damaging legal battle with an undisclosed manufacturing client. This closes a seven-month chapter of significant financial uncertainty for Africa’s largest pharmaceutical producer. In a statement, Aspen advised shareholders that the dispute had been settled. The counterparty is required to pay the R500m “before December 1 2025,…
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RAF Insolvency exposed by Senior Actuary
A former senior actuary at the Road Accident Fund (RAF) has delivered explosive testimony to Parliament. He described a controversial accounting change as an “accounting sleight of hand.” Management designed this to mask the fund’s actual insolvency and mislead the public. In a damning affidavit submitted to the Standing Committee on Public Accounts (Scopa), Itayi Charakupa, the RAF’s former senior…
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RAF’s Unpaid Claims Cause Hospital Closure
Sunshine Hospital, a 200-bed private medical facility, has been forced into permanent closure due to financial insolvency. The closure was due to more than R300 million in unpaid, adjudicated claims from the Road Accident Fund (RAF). The details of the hospital’s collapse were laid bare before Parliament’s Standing Committee on Public Accounts (Scopa). The hospital’s boss, Kenneth Ford, delivered damning…
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Medical Tax Credits: A Change in Healthcare Policy
The financial reality of implementing South Africa’s National Health Insurance (NHI) is drawing nearer. The Department of Health confirms it is actively pursuing plans to phase out medical tax credits. This will help fund the ambitious scheme. The initial focus will be on high-income earners, marking the first concrete financial step towards overhauling the nation’s healthcare system. The department is…
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Health Funding Solution: Steps by National Treasury
The National Treasury is preparing a new bill. This is a crucial move for the health sector. It will address a severe funding shortfall. The gap is a result of the withdrawal of US donor aid. This withdrawal puts essential health programs at risk. HIV/AIDS services are particularly vulnerable. The government is now proposing a health funding solution. The financial…