Airtel Africa Repurchases Shares Worth 1.9 Million in Second Round of Share Buyback

Telecom company Airtel Africa has repurchased 1.9 million shares in the second round of its ongoing share buyback program, marking a significant step in its plan to reduce its capital base and enhance shareholder value. This latest purchase is part of the second tranche of Airtel Africa’s $100 million share buyback initiative, which began in May 2025 and is expected to conclude by November 19, 2025.

According to a corporate filing on the Nigerian Exchange Limited (NGX), Airtel Africa’s secretary, Simon O’Hara, confirmed that the company bought the 1.9 million ordinary shares, each valued at $0.50, from Barclays Capital Securities Limited. The transactions were completed over ten deals as part of the buyback process. Following this repurchase, the total number of ordinary shares in issue now stands at approximately 3.668 billion units, including 7.5 million treasury shares. The total voting rights in the company are now about 3.66 billion.

Airtel Africa’s share buyback program is designed to reduce the number of shares in circulation by cancelling all repurchased shares. This reduction in capital is expected to increase earnings per share, which often leads to a higher stock price and greater investor confidence. The company has emphasized that the buyback aligns with its capital allocation policy aimed at supporting long-term growth, strengthening the balance sheet, and ensuring consistent cash flow at the holding company level.

The second phase of the buyback, which started in December 2024, aims to repurchase up to $55 million worth of shares, with Barclays Capital Securities Limited acting as the broker responsible for on-market purchases. Barclays operates independently of Airtel Africa and acts as a riskless principal in the transactions. This arrangement allows Airtel Africa to buy shares from Barclays, who makes buying decisions within pre-set parameters.

Since the launch of the first tranche of the buyback in December 2024, Airtel Africa has repurchased a total of nearly 29 million shares at an average price of about 139.17 British pounds per share. The first phase ended in April 2025, and the company quickly moved to the second phase to continue its capital reduction strategy.

This share buyback program comes at a time when Airtel Africa is experiencing strong financial performance. The company reported a profit after tax of $328 million for the fiscal year ending March 31, 2025, a remarkable turnaround from a loss of $89 million in the previous year. This improvement was driven by increased data usage, tariff adjustments, and effective cost control measures. Airtel Africa’s customer base has also grown to 166.1 million, with significant increases in smartphone penetration and data consumption, reflecting the company’s expanding market presence.

Airtel Africa repurchases shares worth 1.9 million as part of the second round of its share buyback program, reinforcing its commitment to boosting shareholder value and supporting sustainable growth. The company’s strategic buyback initiative not only reduces the number of shares in circulation but also signals confidence in its future prospects, benefiting both the company and its investors.

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