Curro has bought 100% of AFDA – a film, television and live performance higher education institution, via its tertiary education subsidiary Stadio.
In February, Curro anticipated significant growth in tertiary products and said it wanted to position itself to “access the market more aggressively” in 2017.
“Founded by Garth Holmes and Bata Passchier, AFDA has grown from six students in 1994 to approximately 2 000 students in 2017, with campuses in Gauteng, Cape Town, Durban and Port Elizabeth.
AFDA offers nine accredited programmes (higher certificates, bachelor degrees, honours and masters’ degrees) and is reportedly rated as the number one film school in Africa.
But in 2016, it added a Bachelor of Commerce in Business Innovation and a Bachelor of Computer Technology, to expand its offering and “meet the demands and opportunities of the creative economy”. It’s also looking to expand geographically.
The company has campuses in Johannesburg, Cape Town, Durban, Port Elizabeth and AFDA Botswana was opened in September, at the Oodi Campus in Gaborone.
AFDA is registered with the Botswana Qualifications Authority and the Department of Higher Education and Training and the South African Qualifications Authority.
The acquisition, however, is subject to conditions and the Competition Tribunal’s approval.
Curro’s recently-named Stadio Holdings is an investment company aimed at expansion and development in tertiary education, through contact and distance learning. Curro intends on unbundling and listing Stadio Holdings separately during 2017.
Curro CEO and founder Dr Chris van der Merwe will head Stadio as of July 1.
Shareholders were benign, with the share down 0.18% at R43.50 in late morning trade.
The share is down 13.19% year to date.