The Jannie Mouton Stigting / Foundation (Trust or JMF) has made an offer to acquire all of the issued shares in Curro Holdings Limited for c.R7.2 billion.
The Jannie Mouton Stigting is a charitable organisation established as a Public Benefit Organisation founded by Jannie Mouton, the renowned businessman who founded Capitec Bank, PSG Group and PSG Financial Services. Mouton is widely respected for his instrumental role in building and growing some of South Africa’s most successful companies -including Curro itself.
The JMF endeavours to make a meaningful contribution towards improving South Africa for all its people, ensuring that it remains the preferred place to live and raise children for generations to come. This is pursued by supporting like-minded Public Benefit Organisations (PBOs) that are actively engaged and focused in areas such as education, skills development, social work (particularly with children), as well as arts, culture, and heritage, among others.
Education has always been close to Jannie’s heart, he sees it as a powerful way to uplift communities in South Africa and help South Africans reach their full potential. That’s why the Trust is putting almost all of its resources into making this happen. By working with Curro, the Trust believes it can create far greater impact – expanding bursary opportunities and developing educational infrastructure in areas often overlooked by profit-driven institutions. Building and improving schools takes time, and most investors
aren’t willing to wait that long. But the Trust is in it for the long haul, focused on making a real, lasting difference.
Curro shareholders will receive a consideration of an equivalent of R13.00 comprising of Capitec shares, PSG Financial Services shares (“Consideration shares”), and cash in exchange for their Curro shares.
This represents a substantial premium of 60% to the closing price of Curro as at Monday, 25 August 2025.
The consideration shares represent businesses with strong fundamentals and compelling growth trajectories.
The Scheme remains subject to shareholder approval and the receipt of certain regulatory approvals.
“For the Jannie Mouton 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,” Jan Mouton noted.
“Over time, this will open the door for thousands more children to attend Curro schools
through bursaries, broadening access to excellent education. At the same time, Curro shareholders stand to benefit from a 60% premium on the current market price, ensuring that both education and investors gain from this bold initiative.
“I see this as a landmark transaction for all parties involved – one that has the potential to deliver significant benefits for South Africa as a whole.”
Chris van der Merwe, founder of Curro, noted the following about this transaction: “When I started Curro, my goal was to create broad access for learners to high-quality education and teaching.
“Thanks to the Jannie Mouton Foundation – this dream is entering into an exciting phase. Now, thousands of talented children who might never have had the chance to go to excellent schools, will get the opportunity to reach their full potential. I have always been incredibly grateful for Jannie Mouton’s willingness to invest in the education sector for the greater good of South Africa.”
Cobus Loubser, Chief Executive Officer of Curro, noted “The independent board will evaluate the offer further but suffice to say the Jannie Mouton Foundation is not a competitor of Curro and has offered a substantial premium to the market price.”
