ENPF ACQUIRES 25% STAKE OF MEDSCHEME

 MBABANE – Eswatini National Provident Fund has acquired 25 per cent shares of Medscheme Eswatini.

Having been the medical-aid administrator for Eswatini’ s biggest medical aid scheme for more than 30 years, the Medscheme brand is synonymous with quality, reliability and trust when it comes to ensuring that the nation receives the gold standard in medical care.

Now, with the establishment of their own fully-fledged medical aid fund, ENPF’s latest strategic partner will continue to offer the Eswatini nation world-class benefits at affordable rates like its clients rightly deserve, from a name they know and trust.

ENPF Board Chairman Sabelo Mngomezulu said the investment was in line with their investment mandate which seeks to diversify their portfolio while also stimulating the local economy. He explained that since inception, the provident fund had steady growth and for a long time had been heavily exposed to the property sector.

Mngomezulu said while the property sector had been profitable and stable over the years, providing steady growth for members of the fund, the ENPF Board of directors found it prudent to diversify the fund’s investment portfolio by investing in investments that not only provide returns to the fund but also generate social and environmental impact.

To date, ENPF has invested in various sectors of the economy that include hospitality, agriculture, telecoms, financial services and manufacturing.

Natural

The chairman said considering the listed sectors, it was a natural movement for the fund to find an investment in the health sector.         
“It is for this reason that when the opportunity to look into the investment in Medscheme Eswatini came our way, we took it seriously and with open hands. As ENPF, it is our desire to contribute positively to the health systems of the country and as such found it befitting to invest in Medscheme Eswatini,” Mngomezulu explained.

He pointed out that with the wealth of experience the Medscheme group has in healthcare, the kingdom could benefit immensely.
As an example, the chairman said they looked forward to contributing positively in the fight against HIV/AIDS through Aids for Aids (AfA), a sister company to Medscheme Eswatini. 

AfA is a fully-fledged HIV management company that offers a comprehensive solution to the HIV/AIDS pandemic since 1998.
Further, through another sister company, Pharmacy Direct, Mngomezulu, said they believed that in the short-term, they would be in a position to offer door to door delivery of chronic medication to the nation.

“It is for such reasons that we were attracted to acquire a stake in Medscheme Eswatini. We sincerely believe this investment will be worthwhile to the fund and the nation at large in the medium to long-term,” Mngomezulu mentioned.

Medscheme Eswatini, whose holding company is AfroCentric Investment Corporation Limited, said they were happy to form this partnership with ENPF.
Medscheme Chairperson Prince David disclosed that AfroCentric mandated them to sell up to 49 per cent of the Medscheme Eswatini shareholding to local partners as part of the turnaround strategy for the business.

“While we have concluded negotiations with ENPF and are pleased to introduce them as new shareholders, we can confirm that we are still in the market for more shareholders for the balance of available shareholding, which is at 24 per cent at this stage,” the prince revealed.

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