Standard Bank supports the acquisition and conversion to a nonprofit of Curro Holdings by the Jannie Mouton Foundation

Standard Bank is pleased to announce a renewal of its total funding commitment to Curro Holdings ("Curro") following its successful acquisition by the Jannie Mouton Foundation (the "Foundation"). Curro is a leading South African independent school operator with 189 schools across 81 campuses, and 71,755 registered learners in June 2025.

The Foundation operates as a public benefit organisation, with a key objective of uplifting South African communities through increased access to quality education, which is in significant demand and which the Foundation views as a fundamental human right. Accordingly, the Foundation believes that there are many untapped opportunities in South Africa to build and operate schools and further enhance quality educational outcomes.

This transaction will see the entire issued share capital of Curro being acquired by the Foundation, and Curro subsequently being delisted from the JSE. Post delisting, Curro will become a non-profit company and intends to register as a public benefit organisation. The strategy for Curro is to continue to independently grow the business alongside the existing management team for the benefit of South African generations to come.

Standard Bank will continue to provide R1.4bn of Curro’s R3.7bn sustainability-linked funding package, which supports continued financial flexibility for Curro to drive its growth strategy in response to the increasing need for accessible, quality independent schooling in South Africa.

Standard Bank will also retain its role as Sustainability Co-ordinator in structuring Curro's sustainability linked funding package, highlighting Curro's ongoing commitment to sustainable finance and development within the independent education sector.

This transaction further strengthens the long-standing partnership between Standard Bank and Curro, which began 13 years ago with Curro’s initial term debt raise, and reinforces its position as the largest funder and primary banking partner to Curro.

We remain committed to enabling Curro and our core clients to achieve their strategic ambitions with the objective of driving sustainable growth across Africa.