Airtel Africa Repurchases 1.9 Million Shares in Second Phase of $100m Buyback Programme

Airtel Africa has announced the repurchase of 1.9 million of its ordinary shares as part of the second phase of its ongoing $100 million share buyback initiative.

In a regulatory filing submitted to the Nigerian Exchange Limited (NGX) on Monday, the company’s secretary, Simon O’Hara, confirmed the development. The transaction was executed through Barclays Capital Securities Limited, under the authority previously granted by shareholders.

The telecom giant had earlier revealed its intention to commence the second phase of the buyback programme in May 2025, following the successful completion of the first phase, which ran from December 23, 2024, to April 24, 2025.

According to the filing, the 1.9 million shares were repurchased across 10 separate transactions.

Following the buyback, the total number of Airtel Africa’s ordinary shares in issue has been reduced to 3.668 billion, inclusive of 7.5 million treasury shares. The total number of voting rights now stands at 3,660,276,768.

“This figure may be used by shareholders as the denominator for calculations to determine whether they must notify the company of their interest or changes in interest under the Financial Conduct Authority’s Disclosure Guidance and Transparency Rules,” Airtel stated.

Since the launch of the buyback programme in December 2024, Airtel Africa has repurchased a cumulative total of 29,039,936 ordinary shares, at a volume-weighted average price of £139.1748 per share.