OLA Energy Group has signed a Share Purchase Agreement with TotalEnergies to acquire TotalEnergies Marketing Ethiopia, adding more than 120 stations across key cities including Addis Ababa, Dire Dawa and Mek'ele to OLA Energy's pan-African network. 

The transaction covers TotalEnergies Marketing Ethiopia's full downstream operations — a network of more than 120 service stations strategically located across major cities, serving retail, B2B, aviation and lubricant customers. The network includes 10 storage assets, world-class logistics infrastructure, and digital payment solutions already in operation. 

Beyond fuel, the acquired network operates non-fuel services including convenience stores, car wash facilities, lubricant bays, and aviation fuel supply at Bole International Airport in Addis Ababa. 

Already present in Ethiopia, OLA Energy will build on this acquisition to expand its existing network, strengthen operational coverage, and reinforce its ability to serve consumers, businesses and communities across one of Africa's most dynamic markets. Ethiopia is one of Africa's fastest-growing economies, with a population of over 120 million and rapidly rising energy demand, and a fuel market that remains underpenetrated — presenting significant long-term growth opportunity for OLA Energy. 

“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 our presence, strengthen our network and remain close to the customers and communities we serve across the continent,” said Abozid Swalem, Executive Chairman of OLA Energy Group. 

OLA Energy Group underlines that continuity, safety and respect for local expertise will be central to the transition process. The Group intends to work toward a smooth transition that preserves operational stability, customer service standards and business continuity, subject to completion of the transaction. 

The transaction remains subject to customary regulatory and administrative approvals from the competent Ethiopian authorities.