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.
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