Colab Conference Centre, Pretoria

On 21st June 2024, Umvuzo Health’s Annual General Meeting was held at the Colab Conference Centre in Menlyn Maine, Pretoria.

Chairperson, Mr Frikkie Nqume, opened the meeting by extending special thanks to all in attendance; the Board of Trustees, members, partners, as well as representatives from Ransome Russouw Inc (Scheme’s auditors) and the Council for Medical Schemes. Within the hall, 78 members were recorded to be in attendance, which is an excellent turnout considering this year’s AGM was non-elective.

Growth and Thinking Ahead

“On July 1st, Umvuzo Health turns 20 years old, which is a huge milestone from being the ‘new kid on the block’ in the industry”, said Nqume, noting the continuous growth the Scheme is seeing with support at all levels. Umvuzo Health currently has 52,000 Principal members and over 91,000 beneficiaries, with a 52% solvency ratio, making it South Africa’s 6th largest restricted medical scheme.

Mr Nqume also addressed the recent updates on the country’s National Health Insurance (NHI) bill, emphasising the Board’s commitment to a progressive and forward-thinking approach when working with any future developments from the government for the betterment of health outcomes for all members.

Dialogue and Collaboration

As what has become a norm of consistent performance, Umvuzo Health’s auditors reported another clean audit for the Scheme, confirming that Umvuzo handles members’ finances with due diligence. Trustee and member of the audit committee, Mr Sizwe Mokoena also noted the deliberations on new auditor tenders but has assured the appointment of Ransome Russouw showed more favourable outcomes and cost savings for the Scheme.

The remarkable growth of Umvuzo Health and positive financial audit results reassure members that they are in capable hands. Next year will see a new elective AGM, with discussions on extending the Trustee tenure from 3 to 4 years and implementing staggered terms to ensure continuity on the Board.

In conclusion, the continued growth and robust financial health of Umvuzo Health reflect the Scheme’s dedication and transparency with members. As the Scheme looks to the future, they remain committed to adapting to new developments for the advancement of the membership experience.