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OLA Energy-TotalEnergies deal faces regulatory scrutiny over competition concerns

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OLA Energy-TotalEnergies deal faces regulatory scrutiny over competition concerns

The planned acquisition of TotalEnergies Marketing Ethiopia by OLA Energy has run into a regulatory hurdle in Ethiopia, with authorities raising concerns that the transaction could reshape the fuel retail market and concentrate too much power in one company’s hands.

The two international energy companies reached an agreement in Paris at the end of June 2026, under which OLA Energy, a pan-African fuel retailer backed by Libyan state investment institutions, would acquire TotalEnergies’ assets in Ethiopia. The financial terms of the deal were not disclosed.

Sources familiar with the matter told Capital that the transaction has not been treated as a routine business transfer by Ethiopian authorities. The Ethiopian Trade Competition and Consumer Protection Authority, which reviews mergers and acquisitions that may affect competition, has temporarily halted the approval process amid concerns that OLA Energy’s combined market share could approach half of Ethiopia’s fuel retail market.

Regulators are particularly worried that the acquisition could create a dominant market position and increase the risk of fuel supply disruptions if the company later scaled back or withdrew operations, the sources said.

The suspension was confirmed by sources at the Ministry of Trade and Regional Integration, which oversees the authority. They said the move falls within the legal mandate of the regulator to assess competition risks in mergers and acquisitions.

OLA Energy and TotalEnergies are already among the major players in Ethiopia’s downstream petroleum market. If approved, the merged operation would reportedly become larger than the National Oil Company, which currently holds a significant share of the market.

Officials and sources said the concern is that one company controlling such a large portion of the fuel market could create vulnerabilities in distribution and potentially influence prices. Any future operational problems or exit by a dominant player, they said, could have wider implications for fuel availability across the country.

The deal would transfer TotalEnergies Marketing Ethiopia’s downstream assets to OLA Energy, including more than 120 fuel stations in major cities, a 13,000-cubic-meter storage terminal in Dukem, other storage facilities, aviation fuel operations at Bole International Airport, lubricant businesses, digital payment systems and logistics infrastructure.

The transaction would also mark the end of TotalEnergies’ more than seven decades in Ethiopia. The French company has operated in the country since 1950, and its exit is part of a broader strategy to adjust its portfolio in some African fuel distribution markets.

The Ethiopian Petroleum and Energy Authority, the sector regulator, said it has not yet received an official submission on the merger.

Bekelech Kuma, communication director at the authority, told Capital that such deals require detailed review before completion.

“The business transfer and merger process between OLA Energy and TotalEnergies cannot be completed in a short period. It requires a detailed assessment. The Ministry of Trade and Regional Integration has its own legal framework to evaluate whether the merger creates monopoly concerns or affects market competition,” she said.

Under Ethiopia’s competition law, mergers and acquisitions that exceed certain financial thresholds must be notified to and approved by the Trade Competition and Consumer Protection Authority before completion. The authority assesses market share, supplier concentration, barriers to entry and possible impacts on consumers.

The review is carried out under Trade Competition and Consumer Protection Proclamation No. 813/2013 and Merger Guideline No. 1/2016, which are designed to prevent transactions that could significantly restrict competition.

Ethiopia’s fuel market has come under heavy pressure in recent years because of rising import costs, foreign currency shortages, fuel price adjustments and government efforts to strengthen control over fuel distribution and payment systems.

OLA Energy, formerly known as Tamoil before its 2018 rebranding, is managed under the Libyan Africa Investment Portfolio, Libya’s sovereign investment vehicle focused on Africa. The company reported a net profit of €34.5 million in 2024 and operates more than 1,350 service stations across 17 African countries.

The company has expanded its footprint through acquisitions, including fuel assets previously owned by global energy companies such as Shell and ExxonMobil.

After the agreement was signed, OLA Energy Chairman Abozid Swalem said the transaction reflected the company’s confidence in Ethiopia’s energy market.

“This agreement demonstrates our confidence in the future growth potential of the energy markets in Ethiopia and Africa,” he said.

The company has also said it plans to ensure a smooth transition after the deal is completed, while maintaining service standards, operational stability and commercial continuity.

For now, however, the transaction remains under regulatory review, with no timeline yet announced for a final decision.

Educated but humble: Reimagining the purpose of intellectual formation

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Educated but humble: Reimagining the purpose of intellectual formation

It seems that, for many people, intellectualism and humility are often viewed as opposites—qualities that rarely appear together. If a person is considered an intellectual, he or she is often expected to demonstrate confidence, authority, and mastery rather than acknowledge uncertainty or limitations. The Amharic term “mehur” carries the implied meaning that a person possesses knowledge and understanding. The proverb “Yetemare yegedelegn,” loosely translated as “If I have to die, let the educated person kill me,” reflects the high regard society gives to educated individuals and their wisdom and judgment.

However, this social elevation of intellectuals can unintentionally reinforce a human tendency toward pride. When educated people are treated as individuals who possess special insight beyond ordinary people, they may find it difficult to acknowledge their limitations. The danger is not knowledge itself, but the assumption that knowledge gives a person complete understanding and immunity from error.

The consequences of such an attitude might remain personal if they are limited to individual behavior. However, intellectuals often occupy positions of influence in universities, governments, organizations, and communities. Their ideas and decisions can shape the lives of others. Therefore, the character of those who possess knowledge becomes as important as the knowledge itself.

The true measure of knowledge is not only how much one knows but also the awareness of how much remains unknown. Perhaps this is why Socrates stated, “I know that I do not know.” His statement was not an admission of ignorance but an expression of intellectual humility—the recognition that wisdom begins with awareness of one’s limitations. However, cultivating intellectual humility faces several challenges.

One challenge comes from cultural expectations. In many societies, education is closely associated with authority and social status. The assumption that an educated person should have answers to every question creates unrealistic expectations. A university degree or professional position does not mean that an individual possesses complete knowledge. Rather, education should cultivate the ability to think critically, continue learning, and recognize the complexity of reality.

Academic institutions therefore have a responsibility not only to produce knowledgeable graduates but also to cultivate individuals who understand the limits of their knowledge. The purpose of education should not be to create people who merely display confidence in what they know, but people who possess the humility to learn, adapt, and engage with different perspectives. A truly educated person is not someone who believes he or she has reached the final destination of knowledge, but someone who remains curious, reflective, and willing to grow throughout life.

Another challenge comes from institutional culture. Many organizations unintentionally reward the appearance of certainty rather than the willingness to learn. From recruitment interviews to professional advancement, people are often evaluated based on what they already know rather than their ability to adapt and develop. Admitting limitations can be interpreted as weakness instead of an opportunity for growth.

This creates pressure for individuals to present themselves as more knowledgeable than they are. Such behavior may produce short-term impressions of competence but can create long-term problems for institutions. Organizations that encourage mentorship, continuous learning, and capacity building allow individuals to develop their abilities while creating a culture where acknowledging limitations becomes a strength rather than a weakness.

This issue is closely connected to the concept of learning organizations, where success depends on openness, reflection, and the ability to correct mistakes. Institutions that assume they are always right and discourage internal criticism create dangerous blind spots. Confidence is necessary for effective leadership, but confidence without humility can become arrogance. The problem is not believing in one’s ability; the problem is believing that one’s ability is beyond correction.

The Challenger Space Shuttle disaster provides an important example. During the height of the Space Race, NASA scheduled the Challenger launch for January 28, 1986. Several engineers warned against proceeding because of concerns about the shuttle’s components, particularly the effect of cold temperatures on the O-rings. Despite these warnings, the launch proceeded, and 73 seconds after liftoff, the Space Shuttle Challenger broke apart, killing all seven crew members.

The disaster cannot be explained simply as a failure of individual pride. It involved complex technical, organizational, and communication failures. However, it demonstrated what sociologist Diane Vaughan called the normalization of deviance—the process by which unusual risks gradually become accepted because previous incidents did not result in disaster. Challenger serves as a reminder that even highly respected institutions require humility, openness to criticism, and the willingness to question established assumptions.

Another important dimension of intellectual humility is spirituality. Many religious traditions emphasize human dependence on a higher reality and encourage humility by recognizing human limitations. The awareness that human beings are not the ultimate source of truth creates a sense of responsibility and restraint.

At the same time, intellectual humility is not limited only to religious belief. Philosophy and science themselves provide powerful reasons for humility. Scientific knowledge advances because researchers recognize that current explanations may be incomplete and remain open to revision. Philosophical reflection also reminds us that many fundamental questions about existence, meaning, and morality remain complex and difficult.

The danger arises when human beings elevate their own knowledge into absolute certainty and become unwilling to recognize the limits of their understanding. Whether this comes from scientific, political, ideological, or personal confidence, the result can be the same: resistance to correction and unwillingness to learn.

True intellectual humility does not mean rejecting expertise, minimizing achievement, or lacking confidence. A humble scholar can be highly knowledgeable; a humble leader can be highly decisive. Humility does not weaken excellence—it protects excellence from becoming arrogance.

Ultimately, intellectual humility is the foundation that allows knowledge to serve humanity. The greatest intellectuals are not those who claim to possess all answers, but those who understand the vastness of what remains unknown and continue the lifelong pursuit of truth, wisdom, and improvement.

Great Ethiopian Run launches record 60,000 registrations as Bank of America joins as presenting partner

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Great Ethiopian Run has opened registration for its annual international 10km race with a record 60,000 places, while announcing Bank of America as the event’s new presenting partner in a deal officials say will help expand the race’s reach and impact.

The 2026 race is set for 22 November and will mark the start of the new partnership, which organisers say will support the long-term goal of making the event the world’s biggest 10km road race by 2030. The same partnership will also extend to the women’s 5km race in March 2027, around International Women’s Day, and to the children’s races held on the same weekend.

Great Ethiopian Run said the race’s growth reflects both its strong local appeal and its rising international profile. While most places are typically taken by Ethiopian runners, organisers expect more overseas participants as the event continues to build on its World Athletics Label status.

Dagmawit Amare, managing director of Great Ethiopian Run, said the partnership opens a new chapter for the race and its wider social impact. She said the event aims to create more youth opportunity, boost sport tourism and support local enterprise, while continuing to draw on the backing of existing partners.

Three thousand free places, or 5 percent of the total registration number, will be reserved for high school students in their graduation year. Organisers said the move is intended to address a gap in the race’s participant mix and to keep the event inclusive, especially for young people.

For the first time in the race’s 26-year history, chip timing will be used for mass participants who are targeting competitive finishing times. Organisers said runners will also be encouraged to use a new training app designed to help them prepare for the race and make running a more regular part of their daily lives.

The event is also expanding its charitable work. Great Ethiopian Run said its annual Run For A Cause campaign will be strengthened through its online giving platform, with three organizations selected by the Ethiopian Ministry of Women and Social Affairs set to benefit. This year’s fundraising target is more than 5 million birr.

Yvonne Ike, head of sub-Saharan Africa at Bank of America, said the Great Ethiopian Run has become an important platform for community engagement, youth inspiration and international visibility. She said the partnership reflects the bank’s support for an event that creates economic opportunity and helps strengthen Ethiopia’s global sporting profile.

Registration for the race is available only through the Telebirr app. Entry fees are set at 790 birr for the Red Start from Meskel Square and 950 birr for the Green Start from outside the Ghion Hotel, where the chip-timed runners will begin.

Fifa says ‘nobody selling football’ as plan continues

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Fifa says that “nobody is selling football” as it vowed to continue with the controversial plan to sell stakes in its competitions to private investors.

Uefa – the body that governs European football – voted on Thursday to boycott World Cups if the plan proceeded.

Concacaf, which governs football in North and Central America and hosted this year’s World Cup, said its 41 member associations also “rejected” the proposal made by Fifa president Gianni Infantino.

Fifa oversees world football and Infantino would need 106 of its 211 members to vote in favour for the proposal to go through. Uefa and Concacaf members combined make up 96 of those votes.

In a statement released on Friday, Fifa claimed the consultation process had been “disrupted by incorrect media reports”.

“We respect the feedback and concern aired in public and reaffirm our commitment to an open and democratic consultation,” the statement read.

“We will proceed with this consultation process to ensure that each MA (member association) has the ability to express its vote based on facts.

“Nobody is selling football. This is not something Fifa would ever entertain.”

What are Infantino’s plans?

Fifa wants to create a commercial subsidiary to run its main events, including its World Cups, and external investors will be able to buy stakes in it.

It said it would “invite third parties to make minority, non-controlling investments” in a new subsidiary – Fifa Forward Enterprise (FFE).

In a 25-page document created by investment bank JP Morgan, it is made clear that Fifa’s tournaments will expand to hit an estimated increased pay-out of 24m euros per member association in the 2035-2039 cycle.

It mentions “new business initiatives” and “attracting top talent with incentive-driven compensation”.

The World Cup is described in it as the “most widely viewed” sporting event but Fifa, by contrast, is said to be “under-monetised”.

There is no mention in the document of the women’s game.

On Friday, Fifa said FFE had been proposed “to ensure all Fifa member associations have the opportunity to take meaningful ownership of the commercial opportunity of football in their respective countries”.

“This does not come at the cost of either the spirit or the governance of Fifa or football itself,” it added.

Infantino previously wrote to Fifa members saying they will receive $40m (£30m) if they back his controversial proposal. He set a deadline of 19 September for federations to accept his plans if they want to access an initial $20m (£15m).

However, Uefa has accused Fifa of using football “to enrich themselves and their friends”.

If approval is granted, Fifa says Thrive Eternal is expected to lead the proposed investor group for FFE.

Thrive is an American venture capital firm founded by Joshua Kushner – the brother of US President Donald Trump’s son-in-law Jared.

What did Uefa and Concacaf say?

Uefa and Concacaf have led the opposition to Infantino’s plan.

“The World Cup cannot be treated as an investment product,” Uefa’s statement on Thursday read.

“It is one of football’s greatest sporting legacies. It has been built over generations by players, national teams and supporters across every continent.

“No part of it should ever be surrendered to private investors. The World Cup is not for sale.

“This is not merely a profound failure of leadership, but an abdication of Fifa’s duty as the custodian of world football.”

Concacaf said its members “expressed deep concerns about the lack of due process surrounding the proposal” and the “artificially short deadline imposed”.

It also questioned the need for private investment after what Fifa claimed was the most profitable World Cup in history.

The Asian Football Confederation (AFC) said that it is “deeply concerned that Fifa’s unilateral actions appear to undermine the very foundations of continental football”.

The AFC also said it was “unacceptable” that it had not been consulted before the proposal was publicly announced, nor provided with “detailed governance, financial or legal analysis”.

The governing body overseeing football in South America, Conmebol, is yet to publicly comment on the proposals. The governing bodies in Africa (CAF) and Oceania (OFC) have said they will discuss Fifa’s plan in August.

Chelsea manager and 2010 World Cup winner Xabi Alonso was asked about the situation during his side’s pre-season tour of Australia.

“I think that football has to be for the people, not in private hands and I think that the way we love it is this way and we have seen a great World Cup and it’s good to defend the interests of all the people,” he said.

“Hopefully it won’t happen and we will do it – we will keep the game as attractive and as authentic as we like it and that’s why it creates these emotions, these passions.”

What happens now?

It feels as though no-one who matters knows how this situation is going to play out just yet.

“Not sure the detail was considered when deciding the overall policy,” was the response from a senior European football source when asked what this decision means for the U20 Women’s World Cup, starting on 5 September, being hosted by Poland and featuring plenty of European nations.

Uefa’s boycott threat will be activated if Infantino’s funding deal is accepted.

Given 19 September is the deadline for countries to accept Fifa’s deal and bank $20m (£15m) on 1 January, in theory, countries could be pulling out of that tournament in the middle of the quarter-finals and before the semis.

After that, the next senior matches in a Fifa competition are the Women’s World Cup play-offs in October, which feature England, Scotland, Wales and Northern Ireland among others.

Infantino became Fifa president in 2016 when he beat Asian Football Confederation president Sheikh Salman al-Khalifa by 115 votes to 88. The Swiss is due to stand for a fourth term in March.

Prior to this week, it had been anticipated he would be re-elected unopposed. FAs around the world, including some in Europe, have already confirmed their intention to support the 56-year-old.

But sources say in addition to rejecting Infantino’s plan, the vast majority of the Concacaf members are either losing faith in the Fifa president’s ability to govern the game, or have lost it altogether.

Do ‘smaller’ nations need more support?

While Uefa members are among the richest on the planet, many nations elsewhere rely on Fifa funding for basic infrastructure.

“There are the aspirations and needs of small nations, but you’ve also got large nations who have the power,” former Football Association chief executive Mark Palios told BBC Breakfast.

“It’s not dissimilar to the attempts to form a European Super League. On one end you’ve got the people who create the cash, but on the other end you still need competition.”

Rogers Byamukama of the Ugandan Football Federation argued that any avenue that could lead to more resources for nations like his should be explored.

“First and foremost, you need to understand that football is a very expensive venture, especially on the African continent where the resources are not easy to come by,” he told Newsday on BBC World Service.

“For instance in Uganda, the number of infrastructure projects that have been funded by Fifa from the resources generated by Fifa, especially at the World Cup, both from ticket sales as well as sponsors.

“On top of that, there are many grassroot programmes that have been funded by Fifa, including schools for football.

“From my perspective, any avenue that brings in more resources is good because those resources would be distributed and given to federations, especially on the African continent and that would inspire growth.”

Byamukama acknowledged Uefa’s right to speak out, but suggested that its members are not reliant on Fifa funding like many associations in the rest of the world where Infantino remains popular.

In the first two cycles of the Fifa Forward development programme, through to 2022, $2.8bn (£2.08bn) was made available for investment across the 211 member associations.

Fifa Forward 3.0 – covering the years 2023 through to 2026 – has produced a 30% increase in funding.

Fifa has provided a further $5m (£3.7m) for every member association, with another $60m (£44.48m) paid to each confederation for their own projects.

After being re-elected unopposed in 2019 and 2023, Infantino is expected to win another term in 2027.

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