Curro agrees to buy majority stake in Southern Business School
Johannesburg - Private school operator Curro Holdings on Thursday entered into an agreement to acquire 74 percent shares of Southern Business School for an undisclosed amount through its wholly-owned subsidiary, Stadio Holdings.
This comes after Stadio acquired the South African School of Motion Picture Medium and Live Performance (AFDA) earlier this month, clearly demonstrating its strategy of creating further access to tertiary education through the expansion and development of its core brands. Curro's acquisition of Southern Business School is subject to the fulfilment of certain conditions, including the approval of the requisite competition authorities.
Southern Business School is a South African registered higher education institution, with SBS Namibia being recognised by the Namibian Qualification Authority. Stadio will hold a 51 percent interest in Southern Business School of Namibia. SBS has 11 accredited distance learning programmes, ranging from higher certificates to masters' degrees, with three academic schools which offer dedicated programmes as well as short courses.
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Founded by Chris Vorster in 1996, the business school offers accredited programmes through distance learning, and has grown from 38 students in 1996 to approximately 9,956 students currently enrolled in South Africa and Namibia. In 2016, SBS launched a Bachelor of Commerce (Law) degree as part of its strategy to expand its range of programmes offered.
Curro said SBS will seek out growth opportunities by introducing new programmes as well as increasing its presence and reach geographically. Curro also re-affirmed its intention to unbundle and list Stadio separately during the course of this year.
AFRICAN NEWS AGENCY