Airtel Africa Plc has officially started the second tranche of its $100 million share buy-back program. This follows the completion of the first tranche announced on 23rd December 2024.
This was disclosed in a statement signed by the Company Secretary, Simon O’Hara, and published on the Nigerian Exchange website on Wednesday.
Airtel Africa’s second tranche of its $100 million share buy-back program, valued at $55 million, is expected to be completed by 19th November 2025, as outlined in the disclosure.
Reiterating the purpose of the initiative, the company stated, “The sole purpose of the buy-back programme is to reduce the capital of the company. As such, all shares purchased under the buy-back programme will be cancelled.”
Airtel Africa has entered into an agreement with Barclays Capital Securities Limited to carry out an on-market share buy-back. Barclays will act as a riskless principal, making independent trading decisions and executing transactions based on pre-approved terms set by Airtel’s shareholders.
In addition to reducing share capital, the buyback is expected to strengthen Airtel Africa’s balance sheet by lowering debt exposure and minimizing cash obligations related to capital maintenance.
After completing its initial $100 million share buy-back program in March 2024, Airtel Africa announced the launch of a second phase on December 23, 2024.
The company disclosed that the second phase will be executed in two tranches.
The first tranche of the $100 million programme, which began on December 23, 2024, is set to conclude by April 24, 2025, with a cap of $50 million.
The second tranche, starting on May 14, 2025, will complete the remaining portion of the programme.
Airtel Africa’s financial results for the period ending 31st March 2025 show a strong recovery, with a pre-tax profit of $661 million, reversing the $63 million loss from 2024.
Profit after tax reached $328 million, a significant improvement from the prior year’s loss of $89 million, which was largely due to derivative and foreign exchange losses in Nigeria.
Commenting on the results, Chief Executive Officer, stated, “Sunil Taldar.
“An improving operating environment and focused execution contributed to strong momentum in our financial results, with constant currency revenue growth peaking at 23.2% in Q4 2025.
“Part of this acceleration in the last quarter was also driven by the tariff adjustment in Nigeria.”
