AfroCentric sees affordability as key
CEO would like to see AfroCentric's market share increase by 25% over the next three years
AfroCentric Group has its sights set on a bigger slice of SA's open medical aid industry with a plan to make health care more affordable, says CEO Ahmed Banderker. Through Medscheme, the group administrates 39.5% of SA's open and closed medical aid schemes. In comparison, Discovery Health administers just over 40%.Open medical schemes are those that anyone can join whereas schemes for the police (Polmed) and government workers (Gems) have restricted membership. Banderker said this week he would like to see AfroCentric's medical scheme administration market share increase by 25% over the next three years. The group's focus on the supply side of health care and its ownership of businesses throughout the health-care value chain are key to its hoped-for growth, because these give it more control and influence in the pricing of health-care products and services.Banderker said AfroCentric was working on "a new value proposition" that would reduce the cost of health car...
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