Curro Delists From JSE Following R7.2 Billion Acquisition by Jannie Mouton Foundation for Philanthropic Transformation

Curro delists from the JSE as the Jannie Mouton Foundation completes its R7.2 billion acquisition. Learn about the shift to a public benefit education model.

By: AXL Media

Published: Apr 13, 2026, 5:26 AM EDT

Source: Information for this report was sourced from BusinessTech

Private Education Giant Completes Transition to Philanthropic Entity

The landscape of South African private education has undergone a fundamental shift following the finalization of the R7.2 billion acquisition of Curro by the Jannie Mouton Foundation. This transaction, which became unconditional at the end of 2025 after meeting all suspensive conditions, has effectively ended Curro’s tenure as a profit driven, publicly traded corporation. On January 13, 2026, the group officially delisted from the Johannesburg Stock Exchange, signaling its new chapter as a bona fide public benefit organisation focused on sustainable educational development.

From Severance Package to Multi Billion Rand Enterprise

The genesis of the Curro empire dates back to 1998, when Dr. Chris van der Merwe, a former deputy principal, resigned from the Western Cape Department of Education. Utilizing his R240,000 severance package, Van der Merwe launched the first school in a Durbanville church with only 28 students. Despite a lack of formal business training, he developed a financial model that allowed the group to scale, eventually growing from a single campus into a nationwide network of 189 schools across 81 different campuses.

Strategic Partnership with PSG Group Fueled Rapid Expansion

A critical turning point for the organization occurred through its collaboration with the PSG Group and its founder, Jannie Mouton. PSG acquired a 50 percent stake in the firm, providing the necessary professional accounting expertise and capital to fuel exponential growth. This partnership led to the company’s initial listing on the JSE’s Alternative Exchange in 2011 with a market capitalization of R400 million, before graduating to the Main Board just one year later as student enrollment surged to 12,000.