Private school investor Curro Holdings has unlocked access to capital after securing R2.4bn in new loan facilities, the company said on Monday.
The new loans enabled Curro to refinance its R2bn in existing debt facilities, due for repayment by end-2026, and include more favourable terms than the refinanced facilities, said Curro.
The company said the strong support from its lenders, including Standard Bank, Investec, Absa and Nedbank, would see it “continue to build and develop a sustainable, future-focused education system” that delivers long-term value for learners, parents, employees and shareholders.
The organisation’s deeper pockets will allow it to focus on increasing the capacity utilisation of its existing facilities in the short to medium term, in line with the group’s growth strategy.
The company plans to invest up to R660m in capital projects this year to maintain, replace and expand its facilities, which include 189 schools and 81 campuses in Southern Africa.
Curro, the country’s biggest independent school group, invested R669m into expanding its footprint last year with two new campuses opened in Namibia and one in Sandton, Johannesburg.
However, with 72,109 registered learners, the group reported a slight decline in enrolment at the start of this year compared with 2024, which it said “reflects the broader economic pressures on SA households”.
Curro thanked the banks for their “continued support of our vision to make independent school education more accessible across Southern Africa”.
The new agreements include R1.4bn in four and five year term loan facilities, and R1bn in two and three year revolving credit facilities, with PSG Capital having acted as Curro’s transaction adviser.
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