OLA Energy Group has signed a Share Purchase Agreement with TotalEnergies to acquire TotalEnergies Marketing Ethiopia, expanding its presence in Ethiopia’s downstream energy market.

The acquisition covers TotalEnergies Marketing Ethiopia’s full downstream operations, including more than 120 service stations across major cities such as Addis Ababa, Dire Dawa and Mekelle. The network serves retail, business-to-business, aviation and lubricant customers.

The transaction also includes 10 storage assets, logistics infrastructure and digital payment solutions. In addition to fuel services, the acquired network operates convenience stores, car wash facilities, lubricant bays and aviation fuel supply at Bole International Airport.

OLA Energy, which already operates in Ethiopia, said the acquisition will help expand its existing network, strengthen operational coverage and improve its ability to serve consumers, businesses and communities across the country.

Ethiopia’s large population, rising energy demand and underpenetrated fuel market are expected to create long-term growth opportunities for the company.

OLA Energy Group Executive Chairman Abozid Swalem said the agreement reflects the company’s confidence in Ethiopia and Africa’s energy markets. He added that the transaction aligns with the group’s ambition to expand its presence, strengthen its network and remain close to customers and communities across the continent.

The company said continuity, safety and respect for local expertise will be central to the transition process. It also indicated that it will work to ensure operational stability, customer service standards and business continuity.

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

Source (including image): OLA Energy Group