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JOINT VENTURE – IQ BUSINESS GROUP

A joint venture between SUPERGROUP,BOLAND FINANCIAL SERVICES CAPITAL and HOSKENS CONSOLIDATED INVESMENTS – THE IQ BUSINESS GROUP – with initial capital of R22m is to be launched in Johannesburg today.Headed by a team of ARTHUR ANDERSEN alumni with Johan Roets as MD, BFS and black empowerment group,HCI,both took up a 22,2% stake in IQ.SUPERGROUP took up 27,7% – the balance held by IQ management.

Source: Business Day