Airtel Africa Steps Up Its Share Buyback Programme

Airtel Africa has increased the volume of shares repurchased under its ongoing $100 million buyback programme, bringing the cumulative total to nearly 41 million shares.

The move comes as the telecoms operator continues to balance capital returns with sustained investment in network infrastructure, data services and mobile money platforms across its 14 African markets. As demand for digital connectivity and financial services accelerates across the continent, the company has maintained that it can support growth initiatives while strengthening shareholder returns.

The buyback programme, which was launched in December 2024, is being executed through open-market purchases, with all repurchased shares cancelled in order to reduce the company’s issued share capital. To date, shares have been acquired at a cumulative average price of around $2 per share, representing an estimated total value of approximately $84.6 million at prevailing exchange rates.

In a filing with the Nigerian Exchange, Airtel Africa disclosed that it repurchased an additional 40,000 ordinary shares on December 31, 2025. The shares were bought at prices ranging between approximately $4.50 and $4.60 per share, based on current exchange rates.

According to the company, the continued execution of the buyback reflects confidence in its cash-generating capacity and balance sheet, even as it sustains significant capital expenditure across its African operations. By cancelling the repurchased shares, Airtel Africa is incrementally improving per-share metrics such as earnings per share, while increasing the proportional ownership of remaining shareholders.

Following the latest cancellations, Airtel Africa’s issued ordinary share capital stands at about 3.66 billion shares, with total voting rights reduced to approximately 3.65 billion. While the numerical impact of the latest transaction is relatively small, it reinforces the company’s broader capital management strategy.

The buyback also highlights financial discipline at a time when telecom operators across Africa are facing rising capital requirements to support expanding digital ecosystems. Airtel Africa remains one of the continent’s largest telecoms and mobile money providers, operating across East, Central and West Africa in markets with a combined population exceeding 600 million people.