OLA Energy has signed an agreement to advance the OLA Energy Ethiopia acquisition of TotalEnergies Marketing Ethiopia. This will enhance the company’s Ethiopia acquisition approach in Africa. Besides, it enhances their reach in a rapidly expanding energy market. The agreement includes over 120 service stations across key Ethiopian cities. These include Addis Ababa, Dire Dawa, and Mek’ele. Additionally, the network serves retail, aviation, and B2B customers. It also includes storage facilities and modern logistics systems. Furthermore, the acquisition covers non-fuel services such as convenience stores and car wash facilities. It also includes aviation fuel supply at Bole International Airport. As a result, the company strengthens its service offerings.
OLA Energy Expands Ethiopian Operations Through Strategic Acquisition
The company is already operating in Ethiopia. As a result, the acquisition of the company’s Ethiopia operations will increase its presence within the country. This will help in increasing its operational coverage as well as its customer base. The need for energy within the country is growing rapidly, while the fuel consumption per capita is low.
This deal is in line with the strategy adopted by the company to expand its presence in promising African markets. This deal also contributes to enhancing trade, mobility, and economic growth in the region. However, the deal is still subject to regulatory approval. Meanwhile, business operations will be conducted as per current legal and contractual arrangements.
“This agreement reflects our confidence in Ethiopia and in the continued growth potential of Africa’s energy markets. It is fully aligned with OLA Energy’s ambition to expand its presence, strengthen its network, and remain close to the customers and communities we serve across the continent.” Abozid Swalem, Executive Chairman, OLA Energy Group
Commitment to Continuity OLA Energy Group confirms that continuity, safety, and respect for local expertise will be central to the transition. TotalEnergies Marketing Ethiopia employees remain a key priority, and the Group intends to work towards a smooth transition that preserves operational stability, service quality standards, and business continuity, subject to completion of the transaction. Until closing, the relevant activities will continue to operate in accordance with applicable laws, regulations, and contractual obligations. The acquisition will be completed once the applicable conditions precedent have been satisfied, including the approvals of the competent authorities in Ethiopia.
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News Source: PRNewswire.com
