Tag: Ola Energy

OLA Energy Holding has reported another year of strong financial performance, reflecting continued growth and operational resilience across its African markets.

The company’s Annual General Meeting was held on Sunday, 13 July 2025, during which shareholders reviewed and approved the audited financial statements for the fiscal year ending 31 December 2024. The meeting also included the presentation of the external auditor’s report and an overview of the company’s annual operations.

According to the financial results, OLA Energy achieved a net profit of €34.5 million in 2024 — up from €29.8 million in 2023 and €11.2 million in 2022. This consistent upward trend highlights the effectiveness of the company’s strategic direction and the impact of robust governance and operational efficiency.

Shareholders and members of the General Assembly commended the Board of Directors and executive leadership for their efforts in driving growth and maintaining financial discipline. They emphasised that the latest results reaffirm OLA Energy’s strong fundamentals and its commitment to expanding its footprint and capabilities across the continent.

OLA Energy, a wholly owned subsidiary of the Libya Africa Investment Portfolio (LAIP), operates in 17 African countries. Its expansive network includes more than 1,500 service stations, aviation refuelling services at 55 airports, and seven specialised plants producing high-performance lubricants and engine oils.

Looking ahead, OLA Energy remains focused on sustainable growth, innovation, and delivering long-term value to its stakeholders while supporting Africa’s evolving energy needs.

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.