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IOCO

iOCO Technology Group
FormerlyEnterprise Outsourcing Holdings (EOH) Group
TypePublic
JSE: IOC
IndustryTelecommunications
Founded1998; 28 years ago (1998)
Headquarters
Johannesburg
,
South Africa
Area served
EMEA
Key people
Andrew Mthembu
(Chairperson)
Rhys Summerton and Dennis Venter
(joint CEOs)[1]
ProductsTechnology Consulting, IT Services, Systems Integration, Software, Industrial Technologies, Business Process Outsourcing
RevenueDecrease R 5.58 billion[2] (2025)
Increase R 420.96 million[2] (2025)
Increase R 245.93 million[2] (2025)
Total assetsDecrease R 2.8 billion[2] (2025)
Total equityIncrease R 753.31 million[2] (2025)
Number of employees
Decrease 4,382[3] (2025)
Subsidiaries
List
Websiteioco.tech

iOCO, formerly known as EOH Group, is a South African company specialising the provision of technology services to businesses and government. The company was rebranded in December 2024 as part of efforts to distance itself from the scandal around allegations of malpractice and tender irregularities under previous leadership.[4][5]

Controversies

EOH Group executive, Jehan Mackay, was implicated in a bribery scandal to obtain South African government contracts between 2015 and 2016. In 2020 company representatives gave testimony to the Zondo Commission on its involvement in government corruption and state capture.[6][7][8]

In 2017, the company won a tender of almost R300 million to update the Department of Home Affairs's population register system, but as of 2022 no work had been completed. A subsequent investigation by forensic accounting firm Nexia SAB&T revealed that the company beat its competitors in a "corruption infested" bidding process.[9]

References

  1. ^ Moyo, Admire (14 February 2025). "iOCO appoints joint CEOs as Marius de la Rey quits". ITWeb. Retrieved 30 November 2025.
  2. ^ a b c d e "Integrated Annual Report 2025" (PDF). Retrieved 30 November 2025.
  3. ^ "Integrated Annual Report 2025" (PDF). p. 8. Retrieved 30 November 2025.
  4. ^ Fraser, Luke (29 November 2024). "Goodbye EOH, hello iOCO". BusinessTech – Business Technology news and views. Retrieved 30 November 2025.
  5. ^ Gavaza, Mudiwa (1 December 2024). "EOH officially changes its name to Ioco on December 11". Business Day. Retrieved 30 November 2025.
  6. ^ Rensburg, Dewald van (2020-11-25). "amaBhungane: Days of Zondo: EOH's Mackay doled it out to Zizi Kodwa and other ANC officials". Daily Maverick. Retrieved 2020-12-09.
  7. ^ "Dirty EOH's clean-up plan makes strides". The Mail & Guardian. 2020-12-07. Retrieved 2020-12-09.
  8. ^ Moyo, Admire (2022-01-05). "Zondo report shows how EOH made 'donations' to ANC". ITWeb. Retrieved 2023-04-11.
  9. ^ Masungwini, Norman. "Home affairs blows R300 million on population register system". City Press. Retrieved 2023-04-11.

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