21 November 2016

Curro Holdings Buys 50% Stake in Ba Isago University, Bostwana

Shareholders are hereby informed that Curro, the JSE-listed independent school group with 47 campuses or 110 schools and more than 42 000 learners, acquired, via its wholly-owned subsidiary The Embury Institute for Higher Education (Pty) Ltd (“Embury”), previously known as Embury Institute for Teacher Education, a 50% stake in BA Isago University. Embury is a registered and accredited institute for higher education focusing primarily on teacher education.

BA ISAGO University was established in Botswana in 2002 and operates from four campuses – Gaborone, Fancistown, Serowe and Maun. It has about 3 000 students and intends to expand to accommodate about 6 000 students. The BA Isago University acquisition aligns with Curro’s business strategy and offers a strong Faculty of Education.

The transaction is subject to the fulfilment of various conditions precedent. Curro will fund the transaction by means of existing cash reserves and bank loans.

Curro’s vision is to have 200 schools /80 campuses by 2020. Source: Bloomberg