Jannie Mouton to expand South Africa’s Curro schools in R7.2bn deal
Jannie Mouton Foundation’s R7.2bn Curro acquisition set to boost schools, bursaries and quality education nationwide.
South African billionaire Jannie Mouton is set to acquire Curro Holdings, the nation’s largest private school network, in a landmark R7.2 billion transaction through the Jannie Mouton Foundation, a registered Public Benefit Organisation (PBO).
The acquisition represents a major philanthropic investment, combining education expansion with financial incentives for shareholders. Curro currently educates 71,749 students across South Africa. Following the transaction, the network will become a non-profit company (NPC) and PBO, with surplus funds reinvested into building new schools, upgrading facilities, and providing bursaries to broaden access to quality education.
Mouton, a key figure behind Capitec Bank, PSG Group, and Curro, already holds a 3.36% stake in Curro and has a long-standing association with the network. He said:
“For the foundation, acquiring Curro represents a game-changing R7.2 billion donation in quality education — quite possibly the largest philanthropic contribution South Africa has ever seen. Over time, this will open the door for thousands more children to attend Curro schools through bursaries, broadening access to excellent education. At the same time, Curro shareholders stand to benefit from a 60% premium on the current market price, ensuring that both education and investors gain from this bold initiative.”
The scheme of arrangement offers R13 per Curro share, broken down as:
- R0.85837 cash per share (6.6% of the total consideration)
- 0.00284 Capitec Bank shares per share (79.7% of the total consideration)
- 0.07617 PSG Financial Services shares per share (13.7% of the total consideration)
Based on the 25 August 2025 closing prices, the offer represents a 60% premium on Curro’s share price (R8.13) and a 53% premium on the 30-day volume-weighted average price (R8.52). The transaction corresponds to approximately 1.3% of Capitec’s and 3.2% of PSG Financial Services’ issued share capital.
The Jannie Mouton Foundation intends to leverage the acquisition to scale Curro’s operations, reinvesting potential returns to open new schools, expand facilities, and increase bursary opportunities.
Curro founder Chris van der Merwe commented on the deal:
“When I started Curro, my goal was to create broad access for learners to high-quality education and teaching. Thanks to the Jannie Mouton Foundation — this dream is entering into an exciting phase. Now, thousands of talented children who might never have had the chance to go to excellent schools, will get the opportunity to reach their full potential. I have always been incredibly grateful for Jannie Mouton’s willingness to invest in the education sector for the greater good of South Africa.”
The independent board of Curro will appoint an expert to assess the fairness and reasonableness of the offer. Regulatory approvals are required from the Competition Commission and the South African Reserve Bank. If approved, Curro shares will delist from the JSE by late 2025 or early 2026.
