OLA Energy Kenya is set to fire an unknown number of employees as it grapples with financial constraints forcing it to embark on a strategic restructuring process to boost its market position and profitability.

The energy retailer confirmed that the initiative is part of a broader effort to increase sales and manage operational costs more effectively.

"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," the company stated.

"Through this restructuring, we are committed to reversing the current trends and positioning OLA Energy Kenya for sustainable growth."

However, the restructuring comes with job losses, as OLA Energy Kenya admitted difficulties in sustaining its current fixed costs.

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“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,” OLA said.

It assured that the process would be handled in compliance with Kenyan labour laws and with sensitivity towards affected employees.

The restructuring is expected to unfold over the next five years, as OLA Energy Kenya seeks to solidify its standing as a key player in the country’s energy sector.