Press release from the Competition Council regarding the economic concentration project concerning the indirect joint control acquisition by the company ‘K2025283312 (South Africa) Proprietary Limited’ and the company ‘Mangro Holdings Proprietary Limited’ of the company ‘Honoris Holding Limited’

In accordance with Article 13 of Law No. 104-12 on freedom of prices and competition and Article 10 of Decree No. 2-14-652 issued for its implementation, as amended and supplemented, the Competition Council makes available to the public the ‘operation summary’ below, containing the information provided by the parties.

This information has been prepared by the notifying parties, who are solely responsible. Any inaccurate or distorted information contained therein does not in any way prejudge the Competition Council’s position on the proposed operation.

The publication of this press release does not attest to the completeness of the file provided for in Article 9 of Decree No. 2-14-652 issued for the implementation of Law No. 104-12 on freedom of prices and competition as amended and supplemented.

Names of the companies and groups concerned:

• Indirect acquirer 1: ‘K2025283312 (South Africa) Proprietary Limited’;
• Indirect acquirer 2: ‘Mangro Holdings Proprietary Limited’;
• The target: ‘Honoris Holding Limited’.

Nature of the operation

• Joint control acquisition.

Economic sectors concerned

• Private higher education and training sector.

Deadline for interested third parties to submit their observations

• 10 days from the date of publication of this press release, i.e., September 29, 2025.

NON-CONFIDENTIAL SUMMARY OF THE OPERATION PROVIDED BY THE PARTIES

The Competition Council received notification of an economic concentration operation concerning the indirect joint control acquisition by the company ‘K2025283312 (South Africa) Proprietary Limited’ and the company ‘Mangro Holdings Proprietary Limited’ of the company ‘Honoris Holding Limited’.

‘K2025283312 (South Africa) Proprietary Limited (OMPE SPV)’, a private limited company incorporated under the laws of the Republic of South Africa, registered under number 2025/283312/07, with its registered office at Office 2, Podium Riverlands, 51 Gogosoa Street, Observatory, Cape Town, South Africa. It is controlled by ‘Old Mutual Private Equity’ (OMPE), a private equity fund manager and indirect subsidiary of the holding company ‘Old Mutual Limited’ (OML), an investment group mainly present in Africa, specializing in life insurance, savings, real estate, asset management, etc.

‘Mangro Holdings Proprietary Limited’, a private limited company incorporated under the laws of the Republic of South Africa, registered under number 1999/003544/07, with its registered office at 2, Samora Machel Street, Durban 4001, South Africa. It operates mainly in the fields of education, real estate, and financial services.

‘Honoris Holding Limited (HHL)’, a limited liability company incorporated under the laws of the Republic of Mauritius, registered in the commercial register under number C124472, with its registered office at 33 Edith Cavell Street, Les Cascades, Port Louis, Mauritius. ‘HHL’ is the holding company of a pan-African network of private higher education institutions operating in several African countries, including Morocco, comprising 12 universities in the fields of commerce, information technology, engineering, law, health, education, management, and creative arts.

 

Done in Rabat on September 18, 2025.