Chamwe Kaira
Curro Holdings has moved a step closer to going private after the Botswana Competition and Consumer Authority granted unconditional approval for the proposed buyout.
The transaction, driven by Jannie Mouton Stigting, aims to acquire all issued Curro shares through a scheme of arrangement.
Once completed, Curro will be delisted from the Johannesburg Stock Exchange (JSE).
Details of the deal were first shared with shareholders on 2 October 2025 in a circular outlining the suspensive conditions required for the takeover.
While Botswana has now approved the transaction, it still awaits clearance from South Africa’s competition authorities.
Curro, which jointly owns Windhoek Gymnasium, Walvis Bay Gymnasium and Oshana Gymnasium, disclosed earlier this year that it had received a firm intentions offer from the Jannie Mouton Trust.
The trust informed the board that, subject to conditions being met, Stigting plans to acquire all issued shares and delist Curro from the JSE.
Billionaire Jannie Mouton, founder of PSG Group and Capitec, has offered N$7.2 billion to buy the shares. He established the trust in 2004 to invest in education for broader public benefit.
Since then, Mouton has donated part of his personal wealth to build a foundation aimed at supporting learners and students in South Africa through bursaries, grants, community development and poverty relief.
The trust identified Curro as the ideal vehicle to advance these goals because of its reputation and experienced management team. Curro currently has about 85% black students.
Curro said that after the transaction is implemented, the business will continue to grow independently with its current management.
It will also be registered as a public benefit organisation. The existing board will remain in place for the immediate future.
In Namibia, Curro expanded through new campuses in Walvis Bay and Oshana, after first opening Windhoek Gymnasium.
The Walvis Bay campus opened with 350 pupils, while Oshana Gymnasium started with 200 to 250 learners.
The two schools were built at a combined cost of N$240 million.
In 2024, Curro invested N$306 million in its operations in South Africa and Namibia and planned to invest up to N$700 million that year to maintain and expand facilities, especially for high school demand.
Caption
Jannie Mouton Stigting
