Airtel Africa’s share buyback program continues to gather pace, signaling strong confidence in its financial position. The company announced it had repurchased 1.9 million shares in the second tranche of its ongoing $100 million buyback initiative. Following this development, Airtel Africa clarified that 7.5 million treasury shares are included within the 3.668 billion ordinary shares currently in circulation.
According to a corporate filing on the Nigerian Exchange Limited (NGX), the shares were purchased from Barclays Capital Securities Limited at $0.50 apiece.
“Airtel Africa announces today it has purchased the following number of its ordinary shares of USD 0.50 each from Barclays Capital Securities Limited pursuant to the authority granted by its shareholders as part of its share buy-back programme, details of which were announced on 14 May 2025,” the company stated.
The company acquired the 1.9 million shares through ten separate transactions, according to regulatory filings.As a result, 3,660,276,768 voting rights remain—an important figure for shareholders under the Financial Conduct Authority’s (FCA) Disclosure Guidance and Transparency Rules.
Since the program’s inception in December 2024, Airtel Africa has repurchased a total of 29,039,936 ordinary shares at a volume-weighted average price of £139.17 per share.
Following the successful completion of the first phase (December 23, 2024–April 24, 2025), the company launched the second phase on May 14, with plans to continue through November 2025.
The buyback forms part of Airtel Africa’s broader capital allocation strategy, aimed at reducing its capital base through share cancellations, strengthening its financial position, ensuring steady cash flow at the holding level, and supporting long-term growth.
The company has earmarked up to $55 million for the second tranche. Airtel Africa appointed Barclays Capital Securities to execute the repurchases on the open market, where it will act as a riskless principal. Barclays Capital Securities will independently decide on purchases and then sell the shares to Airtel Africa. Airtel Africa stated that the buyback reflects its commitment to maximizing shareholder value, enhancing investor confidence, and supporting its long-term strategic direction.
The company also reported subscriber growth of 8.7%, bringing its total customer base to 166.1 million. Average data usage per customer rose 30.4% to 7.0 GB, while smartphone penetration increased by 4.3% to 44.8%. The number of data subscribers grew by 14.1% to 73.4 million.
Airtel Africa’s ongoing share buyback underscores its confidence in future performance and long-term strategy. Investors and market watchers will no doubt be keeping a close eye on the company’s next move.
