By MTK Correspondent
OLA Energy, a leading energy products and services retailer, has announced the commencement of a strategic business restructuring process aimed at significantly enhancing its profitability and market share in Kenya over the next five years.
The restructuring, announced by the company, will support an aggressive sales enhancement and operating costs containment program designed to reinforce OLA Energy Kenya’s position as a major retailer of energy solutions.
In a formal notification, the company stated, “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. Through this restructuring, we are committed to reversing the current trends and positioning OLA Energy Kenya for sustainable growth”
Due to the foregoing challenges, OLA Energy Kenya is finding it difficult to sustain its current fixed costs.
It is, therefore, with deep regrets that we need to implement a redundancy program. The company stated further that the redundancy process would be managed with the utmost sensitivity and in full accordance with the laws of Kenya.
The firm OLA is one of Africa’s leading retailing companies, with more than 1,300 Service Stations visited by over 500,000 customers daily in 17 countries.
It operates 60 Fuel Terminals and serves over 54 airports across the Africa continent, including Jomo Kenyatta International Airport (JKIA), in Nairobi.
It had employed more than 1,500 people with its operations generating 20,000 indirect jobs.
