Airtel to repurchase $110m worth of shares from investors

By Damilare Adeleye

Telecommunications giant Airtel Africa Plc has commenced a share buyback programme to repurchase up to one per cent of its issued share capital.

The initiative is part of efforts to return cash to shareholders and strengthen capital allocation.

In a statement issued on Friday, the company said the programme reflects confidence in the strength of its balance sheet and its ability to maintain financial flexibility while continuing investments across its African operations.

The buyback scheme will be executed in partnership with Barclays Capital Securities Limited, which has been authorized to conduct on-market purchases of Airtel Africa’s ordinary shares.

Under the arrangement, Barclays will act as a riskless principal, purchasing the shares independently before selling them back to the company.

According to the statement, the programme will operate through two components simultaneously.

The first is a non-discretionary arrangement under which Barclays will purchase up to $60 million worth of shares independently of the company.

The second is a discretionary arrangement that allows Airtel Africa, subject to regulatory requirements, to instruct Barclays to acquire an additional $50 million worth of shares.

“The sole purpose of the buyback programme is to reduce the capital of the Company,” Airtel Africa stated, adding that all repurchased shares would be cancelled.

The company disclosed that the programme commenced on May 22, 2026, and is expected to run until November 27, 2026, unless terminated earlier in line with the agreement terms.

Airtel Africa further noted that shareholders had previously authorized the company to repurchase up to 366 million ordinary shares during its annual general meeting held on July 9, 2025.

The firm said the buyback initiative aligns with its commitment to maintaining strong financial performance while continuing to invest in growth opportunities across its 14 African markets, where it provides telecommunications and mobile money services to millions of subscribers.