AfroCentric Investment Corp shot the lights out in the six months to December following a subdued period when it was investing heavily in expanding its underlying businesses. The most heartening aspect of the interim performance was that the JSE-listed health-care holding company, which is black owned, is now starting to generate revenues that will assist it in its ambitions to grow in SA and the rest of Africa. AfroCentric, which is a much overlooked mid-cap counter, owns, Medscheme, whose customers include the Government Employees Medical Scheme (Gems) and the Fedhealth and Bonitas schemes. The group is also on a trajectory to acquire new and existing health-care businesses to increase its participation in the health-care sector. It is in discussion with potential partners in East and West Africa to expand its footprint in those regions. But it is not aggressively targeting international expansion at all costs, preferring to remain receptive to opportunities outside the SA market....
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