Airtel Africa Plc has announced an extension of its ongoing $55m share buy-back programme, after returning $34.7m to shareholders through the purchase of 14.2 million shares.
The telecommunications and mobile money services provider disclosed that revised arrangements with Barclays Capital Securities Limited (Barclays) will facilitate the completion of the remaining $20.3m under the second tranche of the programme.
The company had, on May 14, 2025, commenced the second tranche of its share buy-back programme for a maximum value of up to $55m, initially scheduled to end on or before November 19, 2025. However, with the revised agreement, the programme is now expected to conclude on or before March 31, 2026.
Under the new arrangements, Barclays will act on irrevocable, non-discretionary instructions to autonomously execute share repurchases during the company’s closed periods. The investment bank will continue to serve as riskless principal in the transactions.
Airtel Africa explained that the revised mandate would only come into effect if it is not possible to complete the programme under the existing framework. The company emphasised that the sole purpose of the buy-back is capital reduction, confirming that all repurchased shares will be cancelled.
According to Airtel, the share buy-back exercise will remain subject to regulatory provisions, including the company’s general authority to repurchase shares granted by its shareholders, the UK Financial Conduct Authority’s Listing Rules, and the parameters of the Market Abuse Regulation (EU) No. 596/2014 as incorporated into UK law under the European Union (Withdrawal) Act 2018.
The initiative underscores Airtel Africa’s commitment to enhancing shareholder value through strategic capital management, while also demonstrating confidence in the company’s long-term performance
