According to a recent report published by Dis-Chem Pharmacies, a healthcare firm founded by the wealthy Saltzman family of South Africa, it is on track to receive R23.4 million ($1.48 million) as final payment for the July 2021 civil unrest in South Africa from the South African Special Risks Insurance Association (SASRIA).
SASRIA is a “state-owned company and the only short-term insurer that covers all people and businesses with assets in South Africa, as well as government entities, against special risks such as civil commotion, public disorder, strikes, riots, and terrorism.”
The R23.4-million ($1.48-million) payment expected from SASRIA will be paid as part of the healthcare firm’s insurance coverage in South Africa for vandalism and destruction of some of its assets during the civil unrest that engulfed South Africa in July 2021.
The management also stated that the unrest in July of last year had a minor impact on the group’s earnings, but the group was adequately insured, and as a result, it expects earnings to rise due to the successful integration of recent acquisitions, as well as the continued emphasis on return on invested capital.
Dis-Chem Pharmacies is a pharmacy retail and healthcare group in South Africa. Lynette and Ivan Saltzman, who founded the firm in 1978, own a beneficial 45.2-percent stake in the healthcare company.
Since its inception by the Saltzman’s, the group has grown to become the country’s leading retail and healthcare group, with linked dispensaries, family clinics, wound care clinics, and comprehensive self-medication centers.
As of press time on May 4, shares in the group were trading at R38.23 ($2.424) per share, giving the company a market valuation of R32.9 billion ($2 billion), while the Saltzman’s 45.2-percent stake is worth R14.9 billion ($938 million).
