OLA Energy Kenya has announced plans to streamline its operations as part of a broader restructuring strategy aimed at strengthening its market position and boosting profitability. The move comes as the company grapples with financial challenges that have necessitated cost-cutting measures, including workforce reductions.
The energy retailer confirmed that the restructuring initiative is designed to enhance sales, optimize operational costs, and ensure long-term sustainability.
“Over the past year, OLA Energy Kenya implemented a rescue action plan featuring multiple initiatives to reverse the company’s trajectory. These measures include increasing sales and reducing costs,” the company stated.
Despite these efforts, the company acknowledged the need for further intervention, citing difficulties in sustaining its current fixed costs. As a result, it has opted to implement a redundancy program—a decision made with deep regret.
“Due to ongoing financial constraints, OLA Energy Kenya finds it increasingly difficult to maintain its current cost structure. Consequently, we must take the necessary step of executing a redundancy program,” the company added.
While job losses are an unfortunate outcome, OLA Energy Kenya reassured employees and stakeholders that the process would be carried out in full compliance with Kenyan labor laws, with a commitment to fairness and sensitivity toward affected workers.
The restructuring plan is set to unfold over the next five years, positioning OLA Energy Kenya for sustainable growth in the competitive energy sector.
OLA Energy operates in 17 countries, managing over 1,300 service stations and 60 fuel terminals. The company also supplies fuel to more than 54 airports across Africa, including Jomo Kenyatta International Airport (JKIA).
