Private school group Curro is partnering with various entities, including the Namibian Government Institutions Pension Fund and the Development Bank of Namibia, to develop two schools in Namibia without bearing the full cost of building. The partnership allows Curro to leverage its expertise in running private schools.
- Curro already has schools in Windhoek, Namibia, and Gaborone, Botswana. While it doesn’t see the rest of Africa as a major frontier for expansion, it views the Namibian partnership as a low-risk opportunity.
- Curro currently operates 182 schools on 78 campuses, mostly in South Africa. Its focus now is on optimizing the utilization of its existing facilities to accommodate more learners and increase profitability.
- In the first half of the year, Curro grew its student base by 3% to 72,385, with revenue increasing by 16% to R2.4 billion. The growth came from a combination of fee increases, new schools, additional students, and increased extra-curricular activity payments.
- Curro’s long-term debt stands at about R3 billion, approximately three times its annual earnings before interest, tax, and depreciation. However, the company is satisfied with its debt level and anticipates a decrease as a percentage of earnings as revenue continues to rise.