The Supreme Court of Mauritius has ruled to lift sanctions on Ola Energy, formerly known as Oil Libya. These sanctions were imposed earlier by the country’s Financial Intelligence Unit.
On Thursday, Libya’s Government of National Unity released an official letter from Abu Zaid Sowalem, CEO of Ola Energy, addressed to Tahir Al-Baour, acting director of Libya’s Ministry of Foreign Affairs. The letter confirmed the ruling, describing it as a critical development for the company.
Sowalem stated, “This is a highly significant and positive step that will greatly enhance the company’s capabilities and allow it to continue its operations smoothly without legal or regulatory restrictions. This supports its future goals and operational plans.”
Ola Energy operates in 17 African countries, managing over 1,300 fuel distribution stations. The company also provides aviation fuel services in 50 airports across the continent. Additionally, Ola Energy owns several car engine oil factories and ranks as the third-largest company in its sector in Africa.
The rebranding from Oil Libya to Ola Energy in 2018 marked a strategic move to modernise the company’s image and strengthen its presence in regional markets.
This ruling represents a significant milestone for Ola Energy, allowing it to rebuild its operations and maintain its critical role in Africa’s energy sector.
