Dr. Chris van der Merwe, founder of Curro schools, transformed a severance package into a leading independent school network, recently acquired by a billionaire foundation. This article details the entrepreneurial journey, highlighting the growth of Curro from its inception to its current status as South Africa's largest independent school network and the implications of the significant acquisition.
Dr Chris van der Merwe's journey exemplifies entrepreneurial grit and a commitment to education. He transformed his R240,000 severance package into a leading independent school network, Curro , which has now been acquired by a billionaire’s foundation for a staggering R7.2 billion. Van der Merwe's upbringing in Goodwood, Cape Town, shaped his ambition and drive. Raised by his single mother after his father's early passing, he pursued education with dedication.
He began his professional journey as a teacher, obtaining his master’s degree in 1992 after completing his teacher training. Initially, he taught at Fanie Theron Primary School, but his aspirations extended beyond the classroom. He ventured into developing electronic learning modules, a precursor to his later entrepreneurial pursuits. While this initial endeavor wasn't financially successful, it equipped him with invaluable business lessons, especially concerning cash flow management. His doctoral research at Stellenbosch University focused on understanding the competitive landscape of educational institutions, a crucial aspect that would guide his future endeavors. This academic foundation, coupled with his teaching experience, fueled his vision for a different kind of educational experience.\Undeterred by setbacks, Van der Merwe channeled his determination into creating a new educational model. After being unsuccessful in securing a senior position with the Western Cape Department of Education, he made the pivotal decision to start his own school. In 1998, at the age of 37, he resigned from his position as a deputy principal, leveraging his severance package to launch Curro. The first Curro school opened its doors on July 15th, 1998, in Durbanville, welcoming just 28 pupils in a church-leased building. Despite lacking formal business training, Van der Merwe assumed responsibility for Curro’s financial planning and business strategy during its formative years, while his partners focused on academic aspects. The initial expansion of Curro involved establishing schools in Durbanville, Langebaan, Silver Lakes, and Roodeplaat, which demanded significant financial resources. Van der Merwe often used personal assets as collateral to secure loans from banks. A critical turning point arrived when Curro partnered with PSG Group, particularly its founder, Jannie Mouton. PSG's investment and the introduction of a team of chartered accountants provided essential business insights. This partnership was instrumental in fueling Curro's growth and eventual listing on the Johannesburg Stock Exchange (JSE). Curro's expansion was rapid. Curro was listed on the Johannesburg Stock Exchange (JSE)'s Alternative Exchange in June 2011, with a market cap of R400 million. A year later, with 12,000 students across 19 campuses, it moved to the Main Board. The listing provided access to greater capital, accelerating its expansion.\Curro has evolved into South Africa's largest independent school network, boasting 189 schools across 81 campuses. This monumental achievement reflects Van der Merwe's visionary leadership and unwavering commitment to educational excellence. In a recent development that marks a significant milestone, the South African billionaire Jannie Mouton Foundation acquired Curro. This acquisition, which resulted in a deal valued at R7.2 billion, signifies a profound commitment to supporting quality education. The Foundation, with a longstanding relationship with Curro, plans to use its resources to build more schools, enhance facilities, and provide bursaries. The acquisition represents a substantial philanthropic contribution to South Africa, designed to broaden access to excellent education through bursaries and expanded opportunities. The deal underscores the remarkable journey of Curro from its humble beginnings to its current status. The Foundation provided existing shareholders with a minor cash consideration, as well as shares in Capitec and PSG Financial Services. The completion of the deal marked the end of Curro as a publicly traded private school group. It delisted from the JSE on 13 January 2026 and moved forward as a bona fide public benefit organisation (PBO)
Curro Chris Van Der Merwe Education Entrepreneurship PSG Group Jannie Mouton Acquisition South Africa Schools
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