South African billionaire Jannie Mouton is preparing to transform the country’s private education landscape through a R7.2 billion ($417.48 million) plan to acquire Curro Holdings, the largest independent school network in South Africa.
Mouton, founder of PSG Group, is leading the proposed takeover through his philanthropic vehicle, the Jannie Mouton Foundation. The initiative aims to delist Curro from the Johannesburg Stock Exchange (JSE) in December 2025 and convert it into a registered Public Benefit Organisation.
Under the proposed deal, shareholders would receive a combination of cash, Capitec Bank shares, and PSG Financial Services shares, representing a 60 percent premium on Curro’s current market value. The foundation plans to reinvest all future profits into building new schools, expanding existing campuses, and offering bursaries to disadvantaged students.
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A Landmark Move for Education Philanthropy
According to Mouton, acquiring Curro represents a milestone in philanthropic investment.
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, he said. Over time, this will open the door for thousands more children to attend Curro schools through bursaries, broadening access to excellent education.
Curro currently educates more than 70,000 students across the country. The proposed acquisition would allow all future profits to be reinvested in education rather than distributed to shareholders, marking a significant shift toward a social-impact model of private schooling.
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Transaction Details
Shareholders are expected to vote on the proposal during a general meeting scheduled for October 31, with delisting from the JSE expected by early December if approved.
The transaction will see shareholders receive consideration valued at approximately R13 per share, composed of a small cash payment (6.6 percent), Capitec shares (79.7 percent), and PSG Financial Services shares (13.7 percent). This structure aims to balance investor value with the long-term goal of educational expansion.
Curro’s management has circulated detailed documents outlining the terms ahead of the vote. In cases where fractional shares result from the exchange, they will be rounded down, and the remaining fractions sold on the open market to provide cash compensation to shareholders.
Trading in Curro’s shares is expected to be suspended on November 26, with the final delisting planned for December 2, 2025. The current management team will remain in place to ensure stability and operational continuity.
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Blending Profit with Purpose
Mouton’s foundation already holds a 3 percent stake in Curro. Through this acquisition, the foundation aims to combine private-sector efficiency with a public-good mission, setting a precedent for how corporate structures can fund social outcomes.
This transaction ensures that both education and investors gain from this bold initiative, Mouton said, noting that the deal offers significant returns for shareholders while also enabling broader access to quality schooling.
Industry analysts say the move reflects a growing trend in Africa where private capital is increasingly being directed toward social infrastructure. If successful, the Curro model could inspire similar education-focused foundations across the continent.
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A Vision for Africa’s Education Future
The initiative signals an unprecedented private-sector intervention in African education, underscoring the role of billionaire philanthropy in tackling systemic challenges in access and quality.
By merging corporate returns with public benefit objectives, the Jannie Mouton Foundation seeks to establish a sustainable model where private investment directly funds access to education. If proven effective, it could pave the way for similar projects across Africa, aligning profit-making with social progress.
Original Source: Business Insider Africa
Article by Segun Adeyemi
Published October 3, 2025
EduTimes Africa, a product of Education Times Africa, is a magazine publication that aims to lend its support to close the yawning gap in Africa's educational development.