Airtel Africa Plc has repurchased 14.2 million of its shares valued at $34.7 million, as part of the second tranche of its share buyback programme, the telecommunications and mobile money services provider has disclosed.
In a statement signed by Simon O’Hara, group company secretary, the company said it has entered into revised arrangements with Barclays Capital Securities Limited (“Barclays”) to facilitate the continuation of the programme, including during its forthcoming closed period. Airtel Africa stressed that there has been no change to the total size of the buyback previously announced.
The company had, on May 14, 2025, unveiled the commencement of the second tranche of its buyback programme for a maximum value of up to $55 million, with an expected completion date of November 19, 2025.
According to the new update, the firm has so far completed $34.7 million worth of repurchases, leaving a balance of $20.3 million. The revised arrangement with Barclays will allow the programme to continue until March 31, 2026.
“The revised arrangements will come into effect should it not be possible to complete the second tranche under the existing arrangement. The revised arrangements are for a discretionary programme and include irrevocable, non-discretionary instructions to Barclays to continue to operate the buy-back programme during closed periods,” the statement explained. It added that Barclays would run the programme independently in such periods, acting as riskless principal.
Airtel Africa said the sole purpose of the buyback programme is to reduce the company’s capital base, with all repurchased shares set for cancellation.
It further clarified that all purchases will be carried out under its shareholder-approved authority, in compliance with the Financial Conduct Authority’s UK Listing Rules, as well as the Market Abuse Regulation (EU) No. 596/2014 and the Commission Delegated Regulation (EU) 2016/1052, which form part of UK domestic law following Brexit.
