Latest news with #OlaEnergy
Libya Herald
2 days ago
- Business
- Libya Herald
LAIP's OLA Energy reports sustained financial growth for 2024
OLA Energy Holding, a wholly owned subsidiary of the Libya Africa Investment Portfolio (LAIP), has reported another year of strong financial performance, saying this reflects 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. Net profit of € 34.5 million in 2024 — up from € 29.8 million in 2023 and € 11.2 million in 2022 Ola Energy reports that according to the financial results, it 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, the company says, 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. Operating in 17 African countries OLA Energy 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 said it remains focused on sustainable growth, innovation, and delivering long-term value to its stakeholders while supporting Africa's evolving energy needs. . Mauritius High Court lifts sanctions on Libya's Ola Energy LAIP's Ola Energy opens two new petrol stations in Tunisia LAIP's OLA Energy achieves ''record profits'' ( LAIP's Prime Atlantic Hotel in Banjul, Gambia reopened after completion of initial renovation ( LAIP concludes Mozambique visit with agreement to restart its stalled rice project LAIP delegation visits Maputo, Mozambique to recover seized rice project High-level Libyan government delegation arrives in Guinea to regain ownership of illegally confiscated investment assets
Libyan Express
2 days ago
- Business
- Libyan Express
Ola Energy accelerates growth with sharp rise in annual profit
Ola Energy's 2024 results reflect strategic gains and market resilience Ola Energy, the downstream petroleum subsidiary of the Libya Africa Investment Portfolio (LAIP), reported strong financial results for 2024, with net profit rising to €34.5 million—extending its multi-year earnings growth as the company deepens its presence across the African energy market. The results, announced at the company's annual shareholders' meeting on Sunday, reflect continued momentum following a net income of €29.8 million in 2023 and €11.2 million in 2022. The steady climb underscores the impact of LAIP's strategic focus on performance optimisation and portfolio consolidation. Executives attributed the company's gains to operational improvements and targeted investments, particularly in infrastructure and service delivery. Ola Energy's network spans 17 African countries, comprising more than 1,500 retail fuel outlets and jet fuel operations in 55 airports. The company also operates seven manufacturing plants producing heavy-duty lubricants, a move seen as key to diversifying revenue and strengthening supply resilience. At the annual shareholders' meeting, participants approved the audited financial statements for the fiscal year ended 31 December 2024 and reviewed the company's operational report. Board members commended the leadership team for delivering on strategic objectives, citing 2024 as a year of disciplined execution and steady growth. Looking ahead, the meeting highlighted the importance of maintaining financial discipline and operational agility amid shifting market conditions, with an eye toward unlocking further growth opportunities in Africa's evolving energy landscape. Ola Energy is wholly owned by LAIP, a Libyan sovereign wealth vehicle responsible for managing and expanding the country's strategic investments across the continent. The views expressed in Op-Ed pieces are those of the author and do not purport to reflect the opinions or views of Libyan Express. How to submit an Op-Ed: Libyan Express accepts opinion articles on a wide range of topics. Submissions may be sent to oped@ Please include 'Op-Ed' in the subject line.
