iOCO Regains Majority Black Ownership with 56% Stake
iOCO Regains Majority Black Ownership with 56% Stake. Johannesburg-based technology group iOCO has returned to majority Black ownership, with Black shareholders now holding a 56% stake in the business. The company has also retained its Level 1 B-BBEE Contributor status for the eighth consecutive year.
The development was confirmed in the group’s latest B-BBEE certificate, issued on 29 October 2026, marking its return above the 51% Black ownership threshold.
Alongside the ownership changes, iOCO reported several transformation initiatives during its 2026 financial year (FY26), covering skills development, employment and support for smaller businesses.
The company recorded R89 million in recognised skills development expenditure during the financial year. This included placing 160 young people on learnership programmes and employing 73 people with disabilities in permanent positions.
A further R7.3 million was spent on skills development for people with disabilities, while recognised expenditure supporting small, medium and micro enterprises (SMMEs) amounted to R16 million.
These initiatives form part of the group’s reported efforts to expand participation in the digital economy through opportunities in employment, skills development and supplier development.
iOCO said its transformation approach extends across its employees, suppliers, business partners and communities, with a focus on improving access to opportunities within the technology sector.
Group chief executive Rhys Summerton and chief financial officer Ashona Kooblall said the return to majority Black ownership, together with the retention of Level 1 contributor status, reflected the company’s approach to transformation.
The group also emphasised that transformation forms part of its long-term business strategy rather than being limited to its ownership structure.
The latest figures highlight iOCO’s reported progress across several areas of transformation, including ownership, workplace development and enterprise support, as the company maintains its B-BBEE Level 1 rating for another year.
