iOCO returns to majority Black ownership with 56% stake

Technology group iOCO has regained majority Black ownership, with Black shareholders now holding 56% of the business, while the company has retained its Level 1 B-BBEE Contributor status for an eighth consecutive year.

30 Oct 2026

Source: iOCO LinkedIn]]

The Johannesburg-based group confirmed the change in its latest B-BBEE certificate on 29 October 2026, moving back above the 51% Black ownership threshold.

The announcement marks a change in the company's ownership profile, alongside its continued Level 1 contributor status.

Skills development and employment

iOCO reported R89m in recognised skills development spending during its 2026 financial year (FY26). This included placing 160 young people on learnerships and absorbing 73 people with disabilities into permanent employment.

The group also reported spending R7.3m on skills development for people with disabilities and recording R16m in recognised spending to support small, medium and micro enterprises (SMMEs).

The company said its transformation efforts were aimed at broadening participation in the digital economy and creating opportunities for employees, suppliers, partners and communities.

Transformation credentials

iOCO group chief executive Rhys Summerton and chief financial officer Ashona Kooblall said regaining majority Black ownership, alongside retaining Level 1 status, reflected the company's approach to transformation.

The group said it views transformation as part of its long-term business strategy, with a focus on skills development, employment, supplier participation and access to the technology sector.

The latest figures provide a snapshot of the company's reported transformation-related spending and employment initiatives during FY26.