Airtel Africa Launches Second Phase of $100m Share Buyback

Airtel Africa has announced the commencement of the second phase of its $100 million share buyback programme, with a fresh repurchase of up to $55 million worth of shares expected to run until November 19, 2025.

This follows the successful completion of the first tranche, which was initiated on December 23, 2024. The company disclosed the new phase in a regulatory filing with the Nigerian Exchange Limited.

To facilitate the buyback, Airtel Africa has partnered with Barclays Capital Securities Limited, which will execute the on-market share purchases. Barclays will operate independently and act as a riskless principal, with all repurchased shares scheduled for cancellation.

The programme is designed to reduce the company’s capital base and will adhere to guidelines approved by shareholders at the July 3, 2024, annual general meeting. Of the 374 million shares authorized for repurchase, 302.6 million shares remain available after the first tranche.

The transactions will comply with the UK Financial Conduct Authority’s listing rules and the Market Abuse Regulation. The agreement with Barclays allows for continued repurchases during the company’s closed periods.

Airtel Africa’s buyback comes on the heels of strong financial performance. The telecom and fintech provider posted a pre-tax profit of $661 million for the fiscal year ending March 31, 2025—a remarkable turnaround from a pre-tax loss of $63 million in the previous year.