Airtel Africa, one of Africa’s largest telecommunications groups with major operations across Nigeria and East Africa, has expanded its ongoing share repurchase programme, signalling sustained confidence in its balance sheet and long-term growth outlook.
The latest update underscores a deliberate strategy to tighten its equity base while maintaining investment momentum across its markets.
Okay News reports that Airtel Africa has now repurchased a cumulative 40.93 million ordinary shares since the launch of the first tranche of its $100 million share buyback programme in December 2024. The company disclosed that the shares were acquired at a cumulative average price of 152.24 pence per share, reflecting steady execution over the programme’s lifespan.
The most recent transaction involved the repurchase of 40,000 shares on December 31, 2025, continuing the authorised buyback approved by shareholders. Airtel Africa said the shares were bought at prices ranging between 354.00 pence and 357.00 pence, with a volume-weighted average price of 355.95 pence.
The transaction was executed by Barclays Capital Securities Limited, acting under the authority of Airtel Africa’s revised buyback framework announced in September 2025. Using an exchange rate of about N1,970 per pound sterling, the cumulative repurchases are valued at approximately N122.7 billion.
By reducing the number of shares in circulation, the telecoms group is positioning itself to support key per-share metrics such as earnings per share, assuming operating performance remains stable. Market analysts note that consistent buybacks often reflect management’s confidence in cash flow strength and capital discipline.
Airtel Africa confirmed that the repurchased shares will be cancelled, reducing its issued ordinary share capital to about 3.66 billion shares, with 7.49 million shares held in treasury. Following the cancellation, total voting rights now stand at roughly 3.65 billion.
The company noted that shareholders should use the updated voting-rights figure when assessing disclosure thresholds under UK Financial Conduct Authority rules. While the numerical change appears modest, the cumulative effect incrementally increases the relative ownership of remaining shareholders.
Details of the execution showed disciplined buying across multiple trading venues, including the London Stock Exchange, BATS Europe, CHI-X Europe, Aquis Exchange, and Turquoise, indicating a best-execution approach designed to minimise market disruption.
On the Nigerian Exchange, Airtel Africa’s shares closed at N2,270.00 on January 2, 2026, giving the company a market capitalisation of about N8.53 trillion and ranking it among the exchange’s most valuable listed firms. Analysts say the steady buyback programme reinforces Airtel Africa’s appeal as a stock to watch in 2026.
