Airtel Africa Plc has returned a total of $34.7 million to its shareholders after repurchasing 14.2 million shares under its ongoing share buyback programme.
The telecoms and mobile money services provider disclosed this in a statement filed with the Nigerian Exchange Limited on Monday, confirming progress on the second tranche of the initiative.
The company explained that it had entered into revised arrangements with Barclays Capital Securities Limited to ensure the smooth continuation and completion of the buyback exercise.
Airtel Africa had earlier, on May 14, 2025, announced the commencement of the second tranche of its share buyback, valued at a maximum of $55 million. At the time, the programme was scheduled to close on or before November 19, 2025. However, with the revised arrangement, the programme has now been extended to March 31, 2026, to allow for the purchase of the outstanding $20.3 million worth of shares.
According to the statement, the company has already returned $34.7 million through the purchase of 14.2 million shares as part of the second tranche. The revised agreement with Barclays will help facilitate the completion of the remaining transactions.
The company added that the new arrangement provides for a discretionary programme that includes irrevocable and non-discretionary instructions. This setup will enable Barclays to continue operating the buyback during closed periods when Airtel Africa itself cannot directly make market purchases.
Airtel Africa also clarified that Barclays would continue to act as a riskless principal, operating the buyback autonomously. This means the investment bank will carry out transactions independently while ensuring compliance with agreed regulations.
The telecoms giant stressed that the primary purpose of the share buyback programme is to reduce the company’s capital. All repurchased shares will be cancelled, thereby boosting the value of the outstanding shares held by investors.
The company also highlighted that the entire exercise will be conducted in line with its shareholders’ general authority, the Financial Conduct Authority’s UK Listing Rules, and the Market Abuse Regulation framework.
The repurchase of shares is a common financial strategy used by global companies to return value to shareholders. By reducing the number of outstanding shares in circulation, the earnings per share typically increase, which often translates to higher market value for remaining shareholders.
Industry analysts say Airtel Africa’s decision reflects its strong balance sheet and commitment to rewarding investors, especially at a time when many African telecom operators are navigating rising operating costs, currency fluctuations, and heavy capital expenditure requirements.
The extension of the programme also signals Airtel Africa’s determination to complete its capital reduction exercise despite market conditions. By March 2026, the company would have successfully repurchased the entire $55 million worth of shares under the second tranche, reinforcing its position as one of the leading listed telecoms companies in Africa.
Airtel Africa has continued to play a significant role in the continent’s telecoms and fintech space, providing mobile voice, data, and money services across multiple African markets. Its share buyback not only boosts shareholder confidence but also demonstrates strategic financial management within a competitive industry.
As the March 2026 deadline approaches, investors and market watchers will be keeping an eye on how the final phase of the programme impacts Airtel Africa’s stock performance and overall valuation at the Nigerian Exchange and other bourses where the company is listed.
