Airtel Africa has now repurchased 40.93m shares under its share buyback programme

Telecoms operator, Airtel Africa, has disclosed that it has now repurchased 40.93 million shares under the first tranche of its $100 million share buyback programme. This was contained in a corporate disclosure filed with the Nigerian Exchange (NGX) on Friday, January 2, 2026.

According to the company, the confirmation comes after it repurchased 40,000 ordinary shares on December 31, 2025. The development continues the share buy-back programme Airtel Africa launched in December 2024. 

The transaction, carried out by Barclays Capital Securities Limited, was executed in line with the revised buyback framework announced in September 2025. Airtel noted that the shares were repurchased at prices ranging between 354.00 pence and 357.00 pence, coupled with a volume-weighted average price of 355.95 pence.

“Following the purchase of these ordinary shares, the remaining ordinary shares of USD 0.50 each in issue will be 3,655,880,539, including 7,489,044 treasury shares. Accordingly, the total number of voting rights in the Company is 3,648,391,495,” part of the statement reads. 

Since the start of the programme, the telecoms company has repurchased 40,925,209 ordinary shares in aggregate at a cumulative average price of 152.24 pence per share. Roughly, at an exchange rate of about N1,970 to the British pound, the total value of the buyback so far translates to approximately N122.7 billion.

Further breakdown of the shares purchased and trading venues shows that the London Stock Exchange accounted for the bulk of the volume, with 26,245 shares bought at a volume-weighted average price of 355.79 pence. Additional liquidity was sourced from BATS Europe with 4,136 shares bought at a volume-weighted average price of 356.40 pence. 

Other trading venues are CHI-X Europe, Aquis Exchange, and Turquoise. 

Airtel Africa’s Trading Venues

As with earlier repurchases, Airtel confirmed that the shares will be cancelled, permanently reducing its issued share capital. This aligns with the company’s plan to reduce its capital base through the share buyback programme.

Also, it represents an opportunity for stakeholders to benefit from the company’s decision to optimise its capital structure

Also Read: Airtel to expand coverage in Nigeria with Starlink Direct-to-Cell deal.

Airtel Africa’s buyback project

Airtel Africa’s first buyback phase, launched in December 2024, is in line with its commitment to see through Airtel’s existing capital allocation policy. The initiative is targeted at reinforcing the company’s continued growth potential, the consistent cash accretion at the holding company level, and the balance sheet’s strength.

Explaining the share buyback process, Airtel explained that it would be executed in two tranches. The first, which concluded on April 24, 2025, while the second tranche commenced in May 2025. 

As part of Airtel’s plan to reduce its capital, the company embarked on a buyback programme in February following the release of its nine-month results up to December 2023. 

Explicitly, the first tranche amounted to a maximum of $50 million while the second tranche was expected to yield a maximum of $55m.

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