Observer Money

Curro share buyout faces final hurdle

12842 Mins Read

Staff Writer

Curro Holdings has issued an update on the proposed deal that will see the Jannie Mouton Stigting acquire all issued shares in the private schools group and delist the company from the Johannesburg Stock Exchange (JSE).

The company reminded shareholders that the transaction, first detailed in a circular on 2 October, is still subject to outstanding conditions. Only one approval remains: clearance from the South African Competition Authorities, either unconditionally or with conditions acceptable to the offeror.

Curro said the offeror has been in discussions with the Competition Commission and the Department of Trade, Industry and Competition (DTIC). After these talks, the offeror agreed to grant the commission an extra 10 business days so the DTIC can finalise its input.

Curro recently confirmed that the Botswana Competition and Consumer Authority granted unconditional approval for the buyout. The transaction will proceed through a scheme of arrangement, after which Curro will be removed from the JSE.

The proposed buyout is being driven by the Jannie Mouton Trust, which informed Curro earlier this year that, subject to conditions being met, Stigting plans to acquire all issued shares and delist the company. Billionaire Jannie Mouton, founder of PSG Group and Capitec, has offered N$7.2 billion for the shares. He established the trust in 2004 to invest in education for the public benefit.

Stigting has since donated part of Mouton’s personal wealth to fund bursaries, grants, community development and poverty relief projects. The trust said Curro is the right vehicle to advance these goals because of its reputation and management strength. Curro currently has an estimated 85% black student population.

The company said that after the deal is completed, it will continue operating independently with its current management team. It will also register as a public benefit organisation. The existing board will remain in place for now.

Curro has been expanding in Namibia, opening campuses in Walvis Bay and Oshana after first launching Windhoek Gymnasium. The Walvis Bay campus opened with 350 pupils, while Oshana Gymnasium started with between 200 and 250 learners. The two schools were built for a combined N$240 million.

In 2024, Curro invested N$306 million in operations in South Africa and Namibia and planned to invest up to N$700 million that year to maintain and expand its facilities, with a focus on meeting high school demand.

Caption

Curro Holdings has only one condition outstanding — approval from the South African Competition Authorities. 

  • Photo: Contributed

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Curro Holdings’ high-profile move toward delisting from the Johannesburg Stock Exchange (JSE) has created a wave of anticipation across the Namibian and South African business landscape. With buyout negotiations well underway, the Jannie Mouton Trust aims to acquire all outstanding shares, further illustrating its commitment to the educational sector. Over the past year, Namibia has witnessed Curro’s expansion through projects in Walvis Bay and Oshana, reflecting its growth-centric mindset and underlining its intention to invest significantly in modern facilities for learners. According to company statements, just one clearance remains from the South African Competition Authorities to officially finalize the transaction. The trust’s willingness to donate portions of its personal wealth to bursaries and community development reinforces Curro’s long-term strategy: combining profit-generation with positive social impact under its evolving scheme of arrangement.

As observers watch Curro’s plans unfold, many are examining the broader implications of private educational investments. Shareholders from diverse backgrounds have shown interest in how new funding avenues might intertwine with education-focused philanthropic goals. In this context, some of these investors and stakeholders also seek alternative business or leisure ventures beyond the immediate realm of corporate transactions. While private schooling remains a key driver of social progress in southern Africa, innovators are consistently exploring distinct fields, from property development to digital gaming. These sectors provide opportunities for investors to diversify, particularly as emerging platforms satisfy growing demands for flexible online services. By blending stable investments in education with modern digital solutions, market participants look to maintain a well-rounded economic outlook.

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