Airtel Africa Plc has bought back a total of 12.86 million ordinary shares as part of its ongoing $60 million share repurchase programme, reinforcing its commitment to enhancing shareholder value and strengthening its capital structure.
The telecommunications company disclosed in a filing to the Nigerian Exchange Limited (NGX) on Tuesday that the shares were acquired at a volume-weighted average price of 339.40 pence per share since the buyback programme commenced in May.
The latest update showed that Airtel Africa repurchased an additional 1.86 million shares between July 6 and July 10, 2026, bringing the cumulative number of shares bought back under the scheme to 12,864,569.
Details of the transactions indicated that the company purchased 208,662 shares on July 6, followed by 644,108 shares on July 7. It acquired a further 520,000 shares on July 8, 283,658 shares on July 9, and 199,351 shares on July 10.
The shares were bought at average prices ranging from 321.46 pence to 338.13 pence during the period, while market prices fluctuated between a low of 316.80 pence and a high of 340.20 pence.
According to the company, all shares repurchased under the programme will be cancelled, reducing the total number of outstanding shares and potentially improving key metrics such as earnings per share.
The buyback transactions were executed by Barclays Capital Securities Limited across several trading platforms, including the London Stock Exchange, BATS Europe, Chi-X Europe, Aquis Exchange and Turquoise.
Airtel Africa launched the $60 million share repurchase programme on May 22, 2026, as part of efforts to optimise its capital base and deliver additional value to shareholders.
Financial market observers said the continued buyback demonstrates management’s confidence in the company’s long-term prospects and reflects its strong cash position despite operating in a challenging economic environment across several African markets.
The dual-listed telecoms operator, which trades on both the Nigerian Exchange and the London Stock Exchange, remains one of Africa’s leading providers of telecommunications and mobile money services, serving millions of customers across the continent.
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