Chamwe Kaira
Windhoek Gymnasium, Walvis Bay Gymnasium and Oshana Gymnasium, the three schools jointly owned by Johannesburg Stock Exchange (JSE)-listed Curro Holdings Limited, could soon have a new owner.
Curro announced to shareholders on the JSE that its board has received a firm intention offer from the Jannie Mouton Trust.
The trust, through Stigting, plans to acquire all issued Curro shares and delist the company from the JSE.
Billionaire Jannie Mouton, founder of PSG Group and Capitec, owns the trust and has offered N$7.2 billion for the shares. He established the trust in 2004 to invest in education.
Since then, he has donated part of his wealth to create a charitable foundation focused on bursaries, community development and poverty alleviation in South Africa.
The JSE announcement said the trust identified Curro as the ideal vehicle to achieve these objectives because of its reputation and strong management team.
Curro stated that if the deal is completed, its business will continue to grow independently alongside management and will be registered as a public benefit organisation. The current board and management will remain in place for the immediate future.
Mouton is seeking to buy all Curro shares at N$13 each.
In Namibia, Curro’s investments include Windhoek Gymnasium, as well as new campuses in Walvis Bay and Oshana.
The Walvis Bay school opened with 350 pupils, while Oshana Gymnasium started with 200 to 250 learners.
The two campuses were built at a combined cost of N$240 million and form part of a joint venture.
Curro’s annual report for the year ended 30 June noted that the group invested N$306 million in its South African and Namibian operations during 2024.
It had planned to invest up to N$700 million in capital projects that year to maintain, expand and meet growing demand, especially for high school tuition.
