Business

Jannie Mouton’s R7.2 Billion Curro Deal Could Be South Africa’s Biggest Gift to Education

Published

5 days ago

August 27, 2025

Chiraag

Jannie Mouton Curro acquisition, South Africa education investment, private schools growth, bursaries, R7.2 billion education deal, Joburg ETC

South Africa’s education landscape is set for a seismic shift. Billionaire businessman Jannie Mouton has announced plans to buy out Curro Holdings, the country’s largest private school network, in a deal valued at R7.2 billion. The move, set to be made through the Jannie Mouton Foundation, may well be the most ambitious philanthropic gesture in South African history.

A Billionaire’s Education Bet

Mouton is no stranger to bold ventures. Known for building giants like Capitec Bank, PSG Group, and PSG Financial Services, he also had a hand in Curro’s early creation. Now, decades later, he is taking full ownership through his foundation, signalling that education, not just banking or finance, is his legacy project.

The foundation, already a Curro shareholder at just over 3%, intends to position the network as a Public Benefit Organisation (PBO) and ultimately a non-profit company (NPC). In practice, this means surplus funds will be reinvested into building more schools, expanding facilities, and offering bursaries. For thousands of South African families, it could open the door to opportunities previously out of reach.

Why Curro Matters

Curro currently educates 71 749 learners across the country, making it the largest independent school provider. Demand for affordable, high-quality education continues to rise, particularly as public schools struggle with overcrowding and underfunding. By strengthening Curro as a PBO, the trust hopes to expand the footprint of private education into communities where choice has been limited.

This isn’t about profit margins, Mouton argues, but about creating sustainable, quality education. “Over time, this will open the door for thousands more children to attend Curro schools through bursaries,” he said, framing the transaction as a game-changing R7.2 billion donation.

A Complex Offer with Big Returns

While the mission is philanthropic, the offer to Curro’s shareholders is anything but modest. The Scheme of Arrangement values each Curro share at R13, a 60% premium on the market’s last closing price of R8.13, and a 53% premium on the 30-day average.

The consideration will be structured through a blend of:

Cash (around 6.6% of the payout),
Capitec shares (almost 80%),
PSG Financial Services shares (just under 14%).

The Capitec and PSG shares represent about 1.3% and 3.2% of each company’s issued share capital, based on August 2025 valuations. For investors, the deal ensures handsome returns even as the business transitions to non-profit status.

From Profit to Purpose

Curro’s management has already been steering the company towards higher returns after years of slower growth caused by South Africa’s weak economy. With the foundation stepping in, the school group will now embrace a non-profit model, yet remain focused on financial discipline.

Crucially, Curro’s current leadership will remain in place, maintaining continuity while accelerating expansion through reinvestment of surpluses. That could mean more campuses, new acquisitions, and investment in innovative education technology.

A New Era for Education Philanthropy

Education has long been a contested space in South Africa, with public frustration over declining standards and inequality. Mouton’s intervention signals a shift, one where private capital meets public benefit. By converting Curro into a PBO, he is effectively funnelling private wealth into an institution that, in his view, will directly transform lives.

On social media, the reaction has been swift. Some hail the deal as visionary, calling it a lifeline for education. Others question whether private schooling, even under a foundation, can truly address systemic inequalities. What is clear, however, is that this is no ordinary buyout.

The Bigger Picture

If approved, this transaction will not just reshape Curro. It could reset expectations of what philanthropy in South Africa looks like. At R7.2 billion, the deal dwarfs most corporate social investments and places education at the heart of national development.

For Mouton, who built his fortune in finance, it is a full-circle moment. From Capitec’s transformation of banking to Curro’s reinvention of schooling, his influence has been felt across sectors. Now, with Curro’s future tied to his foundation, the promise is that thousands more South African children will step into classrooms that give them a fighting chance.