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Author: Anes

Expand your reach and join our elite network of trusted suppliers

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Libya Africa Investment Portfolio (LAIP) is pleased to invite local and international companies to participate in our supplier pre-qualification process. This initiative aims to identify and establish partnerships with exceptional businesses that can effectively fulfill our diverse needs across various sectors.

Qualifying Criteria:

  • Demonstrated competitive advantages and a proven track record of excellence.
  • Experience in one or more of our key areas:
    • Consulting services
    • Training and development
    • Advertising and marketing
    • Travel and logistics
    • Office equipment and furniture
    • Facility management
    • Security and safety solutions
    • Technology and IT equipment
    • Office Stationery Supplies
    • Other relevant services

Apply Now!

  • Visit our website to access the simple online pre-qualification form: https://laip.ly/supplier-pre-qualification-form
  • Attach all required documents to ensure a complete application.
  • Applications will be reviewed by our specialised team.
  • Only shortlisted candidates will be contacted.

Apply today and become a valued partner of LAIP.

Ola Energy rockets to record profits

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Africa’s leading energy retailer, OLA Energy, achieved record profits in 2023, marking a successful year for the pan-continental company owned by the Libya Africa Investment Portfolio (LAIP). This achievement highlights OLA Energy’s role in transforming mobility across the continent.

The company achieved a €49 million increase in sales compared to the previous year, resulting in net profits after taxes of €46.5 million.

OLA Energy’s remarkable ascent can be attributed to LAIP’s tireless efforts on the company’s behalf. Implementing a multi-pronged strategic roadmap, LAIP empowered OLA Energy with fresh leadership through a revamped board of directors and fostered accountability through an established oversight committee.

The committee’s recommendations, focused on improving efficiency and operations, are being actively implemented.

The board of directors at OLA Energy is also commended for their continuous efforts in monitoring and guiding the company’s activities. Their consistent oversight and strategic counsel were instrumental in driving positive results. Coupled with streamlined operations and optimised administrative costs, the board’s leadership created a winning formula for success.

OLA Energy’s success comes despite facing challenges like political tensions and conflicts in countries like Sudan and Niger. Additionally, currency fluctuations negatively impacted the company by €15.4 million due to the depreciation of local currencies against foreign currencies. Furthermore, fines imposed by the Moroccan Competition Council for the period 2019-2021 were settled in 2023.

Despite these hurdles, OLA Energy’s robust performance solidifies its position as a major player in Africa’s fuel distribution sector.

The company boasts:

  • Over 1,300 service stations across 17 African countries.
  • Over 60 fuel terminals and presence in over 50 Airports across Africa.
  • 8 blending plants.
  • Numerous fuel depots.

These remarkable results demonstrate OLA Energy’s resilience and ability to thrive even amidst challenges. The company is well-positioned for continued success and growth in the years to come.

Own a Piece of Aviation History

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Libya Africa Investment Portfolio (LAIP) is pleased to announce the availability for sale of a BAC1-11 passenger aircraft (registration letters 5A-DKO) located at Mitiga International Airport.

The BAC1-11 passenger plane, which is privately owned by LAIP, is being sold as scrap.

The plane was decommissioned based on the recommendations of a technical committee comprised of aviation professionals.

The plane has been heavily damaged by vandalism, and exposure to the elements without maintenance. Its engines and external structure are corroded and rusted.

The aircraft presents a great opportunity for individuals, scrap dealers, and companies interested in purchasing aircraft spare parts or using them for related purposes.

Terms of Sale

• Disclaimer: This aircraft is being sold “as is, where is” and is expressly not airworthy or suitable for commercial use.

• Intent: The purpose of this sale is to responsibly dispose of the aircraft and potentially recover its materials for sustainable reuse.

Attached below are some pictures that show the current condition of the plane.

If you are interested in purchasing the plane, we kindly recommend getting in touch with us for comprehensive information regarding the sale process, shipping options, and payment arrangements. You can reach us via email at info@laip.co

Chairman of the Board discusses cooperation with Oil Industry Localisation Committee

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Yesterday, Mr. Mustafa Abofanas, the Chairman of the LAIP’s Board, convened a meeting with the Chairman and members of the Localisation Committee for the Oil Materials and Equipment Industry at the portfolio’s headquarters in Tripoli. This committee was established by the Ministries of Industry and Oil.

This meeting is a reflection of the portfolio’s commitment to giving priority to domestic investment in the Libyan economy, with a specific focus on the agricultural sector. Simultaneously, it strives to maintain investments in Africa while efficiently addressing any potential challenges that may arise.

During the meeting, the committee presented their goals and shared progress updates on their ongoing initiatives. They held in-depth discussions on potential industrial and oil projects, while also exploring opportunities for the portfolio to play an active role in the expansion and management of existing factories.

The committee members expressed their confidence in the portfolio’s participation and investment in various projects. In turn, Mr. Abofanas , the Chairman of the Board, reiterated the portfolio’s commitment to collaborate with and offer support to the committee.

Board Chairman Explores Cooperation with Ministry of Agriculture

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In a pleasant gathering held at the Ministry of Agriculture’s main office in Tripoli, His Excellency Libyan First Deputy Prime Minister and Minister of Agriculture and Livestock, Hussein Al-Qatrani, extended a heartfelt welcome to the distinguished guests. The esteemed attendees included Mr. Mustafa Abofanas, the Board Chairman of the Libya Africa Investment Portfolio, Mr. Altahir Al-Khair, the Chairman of the Supreme Advisory Committee within the portfolio and Mr. Abdulhalim Al-Majrab, a member of the committee.

Several officials from the Ministry and its affiliated bodies attended the meeting, fostering an atmosphere of collaboration and shared objectives.

As part of its action plan, the portfolio organised a series of meetings, including this one, with a focus on prioritising internal investment in the Libyan economy, specifically in the agricultural sector. Furthermore, the Ministry aims to protect investments in Africa and tackle any potential challenges that may arise.

In the highly productive meeting, the participants came to a consensus to form a joint committee with the main aim of devising cooperation mechanisms and identifying potential projects for investment allocation by the Ministry through the portfolio.

The Supreme Advisory Committee of LAIP meets to discuss preparations for its work

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On Tuesday, September 5, 2023, the Chairman of the Board of Directors of the Libya Africa Investment Portfolio (LAIP) met with the Supreme Advisory Committee of the portfolio in the presence of the portfolio’s general manager.

During this meeting, the committee prepared to fulfil its duties, as it is in a position to initiate its work in accordance with the charter approved by the Board of Directors in accordance with Resolution No. (7) of 2023.

The Supreme Advisory Committee consists of experts in various investment sectors, including oil, hospitality, and agriculture, as well as financial and legal experts.

The committee was also established in accordance with Resolution No. (8) of 2023, which provides strategic support and technical assistance to the Portfolio’s Board of Directors.

Thus, both the board and the portfolio’s executive management will be able to formulate decisions based on a thorough and comprehensive analysis of all aspects, in order to accomplish strategic objectives and goals.

The committee has also been given the responsibility of studying and expressing opinions in order to address the obstacles and bottlenecks that impede the work of some companies/subsidiaries affiliated with the LAIP.