OLA Energy Expands African Footprint with Ethiopia Acquisition

OLA Energy Group has announced the signing of an agreement to acquire TotalEnergies Marketing Ethiopia. This acquisition will add more than 120 service stations to OLA Energy's network, primarily located in cities such as Addis Ababa, Dire Dawa, and Mekelle.

The move is intended to bolster OLA Energy's position as a significant pan-African energy network. The company has been pursuing expansion strategies across Africa in recent years.

Specific terms of the deal have not been disclosed. However, the acquisition is expected to enhance OLA Energy's logistical capabilities and distribution network within Ethiopia.

The transaction is anticipated to finalize in 2026, subject to regulatory approvals and market conditions. Upon completion, OLA Energy will operate an expanded network across several African nations.