iOCO spent R89 million on skills development and delivered 39 learning programmes. (Source: iOCO) JSE-listed iOCO has regained its status as a black-owned company, lifting black ownership by almost 12 percentage points to 56.47%, as it continues to turn around from scandal-hit EOH. Its latest empowerment certificate, issued by EmpowerLogic, shows it is 21.64% owned…
iOCO CEO Rhys Summerton and CFO Ashona Kooblall. iOCO group chief financial officer Ashona Kooblall received total remuneration of R10.61 million for the 2026 financial year, while group CEO Rhys Summerton received no base salary. This is according to the technology services group’s integrated annual report published on 20 October. The remuneration report breaks down…
Ashona Kooblall, group CFO of iOCO. Technology services group iOCO plans to expand its portfolio through acquisitions in artificial intelligence (AI), cyber security, cloud and digital transformation, as it seeks to capitalise on demand for modern technology following a 39% increase in annual profit. Ashona Kooblall, group CFO of iOCO, told ITWeb yesterday in an…
iOCO CEO Rhys Summerton iOCO will not pay a dividend for as long as Rhys Summerton is at the helm of the company, the IT services group’s CEO said on Wednesday. Instead, he plans to spend a sizeable chunk of the R650-million he expects iOCO to bring in over the next year on acquisitions and…
JSE-listed technology services group iOCO increased profit after tax by 39% to R357m for the year ended 31 July 2026, as improved margins and lower finance costs strengthened its financial performance. Rhys Summerton | image supplied Revenue rose 3% on a constant currency basis to R5.73bn, while earnings before interest, tax, depreciation and amortisation (EBITDA)…
iOCO grew profit by 39% to R357-million in the year to 31 July 2026, but net cash from its operating activities fell 44% to R239-million, as a large release of cash from customers in the previous year was not repeated. The figures, in audited annual financial statements published on Tuesday, fall within the ranges the…
Rian Van Greunen, iOCO Managing Director for Automation Cluster. iOCO and AWS have teamed up to help OpenText customers modernise information management environments, strengthen data governance and become AI-ready without compromising data residency requirements. Speaking ahead of the OpenText Summit Africa to be held in Johannesburg soon, Rian Van Greunen, iOCO Managing Director for Automation…
iOCO has made its second acquisition in four months. (Graphic: Nicola Mawson | Official images) Having pivoted into profitability and resolved legacy issues stemming from its time as EOH, iOCO has announced its second acquisition in four months, buying South African enterprise resource planning (ERP) solutions provider Astraia Technologies. The deal follows iOCO’s purchase of…
iOCO CEO Rhys Summerton iOCO has struck its second acquisition in four months, agreeing to buy enterprise resource planning specialist Astraia Technology as CEO Rhys Summerton makes good on his promise to return the group to “serial acquirer” status. The JSE-listed technology group said on Friday it has entered into a binding agreement – signed…
Rhys Summerton, iOCO CEO. (Graphic by Nicola Mawson, with official collateral) JSE-listed iOCO this morning reported profit of R180 million, an increase of 45.6%, from revenue of R2.8 billion in the first half, as its three-step strategy starts to bear fruit. As part of this strategy, iOCO made its first acquisition in eight years, says…
