Airtel Africa Plc said that through its share buy-back programme, shareholders have received $34.7 million by purchasing 14.2 million shares.
The share buy-back aims to reduce the company’s capital by cancelling all repurchased shares, enhance shareholder value, and demonstrate confidence in Airtel Africa’s long-term growth prospects.
Also, Airtel Africa said it has entered into arrangements with Barclays Capital Securities Limited to facilitate its ongoing share buy-back programme, including during its forthcoming closed period. The total size of the share buy-back programme previously announced has not changed.
The Company in a release on the Nigerian Exchange (NGX) explained that “on May 14, 2025, the Company announced the commencement of the second tranche of its share buy-back programme for a maximum amount of up to $55 million, which was anticipated to end on or before November 19, 2025.
“The Company has returned $34.7 million to shareholders by purchasing 14.2 million shares as part of the second tranche. The revised arrangements with Barclays are to facilitate the purchase of the remaining amount of up to $20.3 million. The share buy-back programme is now anticipated to end on or before March 31, 2026.”
It noted that, “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.
“Barclays will therefore operate the buy-back programme autonomously during those periods. Barclays will continue to act as riskless principal. The sole purpose of the buy-back programme is to reduce the company’s capital. As such, all shares purchased under the buy-back programme will be cancelled. Any purchases of ordinary shares under the buy-back programme will be carried out per the Company’s general authority to repurchase ordinary shares granted by its shareholders from time to time.”
