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The whole model is incredibly profitable. Finding and keeping direction. Back in 1994, Mukheibir and business partner Peter Forshaw brought US brand PostNet to South Africa and purchased Multiserv when it was liquidated.
We were looking to build a multi-brand holding company in the non-food industry, and our holding company, True North Holdings, loosely existed. We soon realised we were diffusing our senior management team too much ibc personal loans wanted ibc personal loans focus our resources on building Cash Converters for the next five years, so we sold Multiserv and PostNet.
What they had left over was a 75-seater building in Midrand they owned but couldnt fill. We decided to let the offices to entrepreneurs needing one-seater office space.