BOLDEN African News · Sunday 8 November 2026
OLA Energy's purchase of TotalEnergies' Ethiopian fuel business reported to face COMESA review
Capital reports, citing sources, that the sale of the entire downstream business of TotalEnergies Marketing Ethiopia to OLA Energy has entered a COMESA competition review, although its procedural status is unclear and no final decision has been confirmed. The two companies signed the share purchase agreement on 30 June 2026 for a business with more than 120 service stations and ten storage assets. Sources told the paper that Ethiopian competition authorities have temporarily halted the domestic approval process.
Why it matters
Sources put the merged group's share at close to 50 per cent of Ethiopia's retail fuel market, an estimate the paper describes as unverified, so the outcome of the review could shape competition in the country's fuel retail sector.
Source: Capital Ethiopia · 8 November 2026