OLA Energy to Acquire TotalEnergies Ethiopia Network

The acquisition encompasses a broad range of assets, including 10 storage facilities, logistics infrastructure, and established digital payment systems. Beyond standard fuel retail, the network serves B2B, aviation, and lubricant sectors, notably operating fuel supply services at Bole International Airport in Addis Ababa. The transition includes service stations across key urban centers such as Dire Dawa and Mek'ele.

For OLA Energy, the purchase signals a long-term investment in a market with a population exceeding 120 million and low per-capita fuel consumption. Executive Chairman Abozid Swalem stated that the agreement aligns with the company’s broader strategy to reinforce its presence across 17 African countries. While the deal remains subject to administrative clearance, the company has pledged to maintain operational stability and prioritize the retention of the existing workforce during the transition period.