OLA Energy, a leading retailer of energy products and services across Africa, has announced a strategic business restructuring for its Kenya subsidiary, aimed at enhancing profitability and expanding market share over the next five years.
In a formal media release, OLA Energy Kenya outlined its plan to implement aggressive sales enhancements and a comprehensive operating cost containment program. The initiative is designed to strengthen the company’s position as a key player in the country’s energy sector.
“During the past year, OLA Energy Kenya initiated a rescue action plan with several initiatives to turn around the trajectory the company was taking, including increasing sales and reducing costs,” the company stated. “Through this restructuring, we are committed to reversing the current trends and positioning OLA Energy Kenya for sustainable growth.”
Despite these efforts, the company acknowledged facing ongoing financial challenges. As a result, OLA Energy Kenya announced the difficult decision to implement a redundancy program in order to manage its current fixed costs more effectively.
“It is, therefore, with deep regrets, that we need to implement a redundancy program,” the statement read. The company assured that the process would be handled “with the utmost sensitivity and in full accordance with the laws of Kenya.”
OLA Energy operates over 1,300 service stations across 17 countries, serving over 500,000 customers daily. In Kenya, the company’s footprint includes operations at Jomo Kenyatta International Airport (JKIA) and employment for more than 1,500 people, with 20,000 indirect jobs supported through its supply chain.
