South African billionaire Jannie Mouton is set to reshape the country’s private education sector with a R7.2 billion ($417.48m) plan to acquire Curro Holdings, the largest independent school network in South Africa.

1. Jannie Mouton, founder of PSG Group, is driving a R7.2 billion takeover of Curro Holdings through his philanthropic foundation.
2. The deal would see Curro delist from the JSE in December 2025 and become a registered Public Benefit Organisation.
3. Shareholders will receive a mix of cash, Capitec shares, and PSG Financial Services shares, with a 60% premium on the current market value.
4. The foundation plans to reinvest returns into new schools, expansions, and bursaries, potentially transforming access to private education in South Africa.

Shareholders are expected to vote on the proposal at a general meeting on 31 October, with delisting from the Johannesburg Stock Exchange (JSE) planned for early December if approved.

Mouton, the founder of PSG Group, has been instrumental in backing some of South Africa’s biggest corporate success stories, including Capitec Bank and PSG Financial Services.

His philanthropic vehicle, the Jannie Mouton Foundation, a registered Public Benefit Organisation (PBO), will drive the acquisition. The foundation already holds a 3% stake in Curro.

Mouton calls deal a landmark donation

“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.

“Over time, this will open the door for thousands more children to attend Curro schools through bursaries, broadening access to excellent education,” Mouton said.

Curro currently educates more than 70,000 students nationwide. The deal would not only take the company private but also reposition it as a PBO. This would enable all future profits and surpluses to be reinvested in expanding facilities, building new schools, and funding bursaries.

“This transaction ensures that both education and investors gain from this bold initiative,” Mouton added, noting that Curro shareholders stand to benefit from a 60% premium on the current market price.

Shareholders to get Capitec, PSG shares

Under the scheme, shareholders will receive consideration valued at approximately R13 per share, comprising a small cash component (6.6%), alongside shares in Capitec (79.7%) and PSG Financial Services (13.7%). The foundation hopes that this will strike a balance between investor value and long-term educational growth.

Curro has issued a circular to shareholders outlining the details ahead of the upcoming vote in October. Should fractional shares arise in the exchange, they will be rounded down, with the remaining fractions sold on the open market to provide cash payments to shareholders.

Trading in Curro’s shares on the JSE is expected to be suspended on 26 November, with final delisting set for 2 December 2025. Current management will remain in place, ensuring continuity of operations.

For South Africa, the move signals an unprecedented private-sector push into education reform, raising questions about whether billionaire philanthropy could play a decisive role in tackling Africa’s widening education gap.

By merging corporate returns with public benefit ambitions, Mouton’s foundation aims to create a model where private investment directly funds access to education, a model that, if successful, could inspire similar initiatives across the continent. (Business Insider Africa)