Airtel Africa Plc has announced that it has returned $34.7 million to its shareholders through the repurchase of 14.2 million shares under the second phase of its ongoing share buyback programme.
The telecoms and mobile money services provider disclosed the update in a statement filed with the Nigerian Exchange Limited (NGX) on Monday. The company explained that it had entered into new arrangements with Barclays Capital Securities Limited to ensure the smooth execution and completion of this tranche of the buyback.
According to the filing, Airtel Africa had originally launched the second tranche of the programme on May 14, 2025, with a maximum value of $55 million. The exercise was initially scheduled to close on or before November 19, 2025. However, under the revised plan, the timeline has been extended to March 31, 2026, allowing the company more time to purchase the remaining $20.3 million worth of shares.
“To date, the company has returned $34.7 million to shareholders through the purchase of 14.2 million shares as part of the second tranche,” the statement said. “The revised arrangements with Barclays are to facilitate the purchase of the outstanding amount of up to $20.3 million. The share buyback programme is now anticipated to end on or before March 31, 2026.”
The company further explained that its updated arrangement with Barclays would allow for a discretionary programme, incorporating irrevocable and non-discretionary instructions. This structure would enable the investment bank to continue executing buybacks even during periods when Airtel Africa is subject to regulatory restrictions, such as closed trading windows. Barclays will continue to operate as a riskless principal, managing the buyback independently and without influence from the company.
Airtel Africa also reiterated that the sole aim of the buyback programme is to reduce the company’s share capital, thereby enhancing long-term shareholder value. All shares repurchased under the initiative will be permanently cancelled.
The company emphasized that the exercise is being carried out in compliance with shareholder approval, as well as relevant regulatory frameworks. These include the authority granted by its general meeting, the UK Financial Conduct Authority’s Listing Rules, and the provisions of the Market Abuse Regulation.
Airtel Africa first launched its share buyback programme as part of efforts to optimize its capital structure, return value to shareholders, and boost investor confidence. The extension of the second tranche is designed to ensure a complete execution of the programme’s objectives without compromising market stability.
Industry observers note that share buyback programmes often signal confidence in a company’s financial health, as they demonstrate management’s belief that its stock is undervalued. By reducing the number of shares outstanding, buybacks can increase earnings per share and potentially support the share price.
With this move, Airtel Africa continues to reinforce its strategy of balancing capital returns with long-term growth investments across its telecoms and mobile money businesses in Africa.
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