Historic R8 Billion Philanthropic Deal Transforms Curro Into South Africa’s Largest Non-Profit School Network

Curro private schools transition to a non-profit PBO after an R8 billion buyout by the Jannie Mouton Foundation, reinvesting all profits into rural education.

By: AXL Media

Published: Apr 3, 2026, 8:59 AM EDT

Source: Information for this report was sourced from Daily Investor

The Strategic Pivot From Profit to Public Good

Dr. Chris van der Merwe, the founder of Curro, has detailed a massive structural overhaul that has shifted the nation’s largest private education provider into a non-profit vehicle. Following a record-breaking R8 billion deal financed by the Jannie Mouton Foundation, the organization has abandoned its traditional corporate model in favor of a Public Benefit Organisation status. This transition, which received nearly unanimous shareholder support in late 2025, ensures that the group is no longer beholden to dividend payouts or short-term market pressures, allowing for a total reinvestment of surplus capital into the South African educational landscape.

From Severance Package to National Infrastructure

The evolution of Curro began in 1998 when Van der Merwe used a modest R240,000 severance package to open a single school with 28 pupils. Over the subsequent decades, strategic partnerships with the PSG Group and billionaire Jannie Mouton scaled the model into a network of 189 institutions serving 72,000 learners. The recent buyout, masterminded by Mouton’s sons Jan and Piet, represents the culmination of Van der Merwe’s doctoral research into global educational competitiveness. By removing the burden of shareholder expectations, the group can now utilize its vast infrastructure to address systemic educational disparities across Southern Africa.

Delisting and the New Operational Business Model

On January 13, 2026, Curro officially delisted from the Johannesburg Stock Exchange, signaling the end of its era as a publicly traded entity. The buyout offered shareholders a 60 percent premium, a move that secured 99.98 percent approval and paved the way for a new board of directors to take office in March 2026. Under the new model, the estimated R600 million in annual cash flow that previously exited the company as profit will remain within the organization. This capital is earmarked for the construction of new facilities in rural sectors and the provision of thousands of bursaries for underprivileged students.