Airtel Africa has repurchased a total of 40.93 million shares at a cumulative average price of 152.24 pence per share since launching the first tranche of its $100 million share buyback programme in December 2024.
In a corporate disclosure filed with the Nigerian Exchange on Friday, January 2, 2026, the telecoms group said it bought an additional 40,000 ordinary shares on December 31 as part of the ongoing programme.
The company noted that the shares were acquired at prices ranging from 354.00 pence to 357.00 pence, with a volume-weighted average price of 355.95 pence.
The transaction was carried out by Barclays Capital Securities Limited under the authority granted by shareholders and in accordance with the revised buyback framework announced in September 2025.
At an exchange rate of about ₦1,970 per British pound, Airtel Africa’s repurchase of 40.93 million shares is valued at approximately ₦122.7 billion.
By consistently reducing its outstanding share count, the company is positioning itself to support per-share metrics such as earnings per share, assuming operating performance remains stable.
This figure underscores the scale of capital already returned through share cancellations, as the telecoms giant continues to cancel the repurchased shares.
For investors, the ongoing buyback signals management’s commitment to returning value through share reduction, reflecting confidence in the group’s cash-generation strength while still funding network investment and mobile money expansion across its African operations.
Attention is now turning to how the share buyback will support Airtel Africa’s stock price on both the NGX and the London Stock Exchange.
Investors are expected to watch closely the remaining headroom under the $100 million authorisation and the pace of execution in the coming months.
Transaction details point to disciplined execution within a tight price band, indicating careful management of market impact. The shares were purchased across multiple trading venues, with the London Stock Exchange accounting for the bulk of the volume at an average price of 355.79 pence.
Market watchers say this kind of multi-venue execution is standard for UK-listed buybacks, especially where companies repurchase shares in modest daily tranches rather than through aggressive market moves.
With the repurchased shares set to be cancelled, Airtel Africa’s issued ordinary share capital now stands at 3.66 billion shares, while 7.49 million shares are held in treasury. After the adjustment, total voting rights have fallen to about 3.65 billion.
