Airtel Africa continues share buyback programme

Airtel Africa plc has announced the purchase of 799,925 of its ordinary shares of USD 0.50 each in aggregate from Citigroup Global Markets Limited under its ongoing share buyback programme.

The transactions, executed across the London Stock Exchange between 5 November 2026 and 6 November 2026, form part of a fresh tranche of the buyback initiative initially announced to the market on 5 November 2026.

The background of the initiative stems from Airtel Africa’s broader capital allocation policy aimed at returning cash to shareholders. Under this fresh tranche, the telecommunications major is targeting the repurchase of up to 12.03 million ordinary shares, representing approximately 0.33 per cent of its issued share capital, running through 22 December 2026.

This follows shareholder authorisations granted to manage outstanding equity and support per-share financial metrics. The company has clarified that all repurchases under this arrangement are restricted to the London Stock Exchange and involve no transactions on the Nigerian Exchange Limited.

During the specific trading sessions covered, the company purchased 353,051 shares on 5 November at a volume-weighted average price of 287.52 GBp, with individual prices ranging from a low of 284.20p to a high of 289.80p.

This was followed by the acquisition of 446,874 shares on 6 November at a volume-weighted average price of 277.92 GBp, with prices spanning between 274.80p and 285.80p.

The overall buyback has achieved a cumulative volume-weighted average price of 282.16 GBp per ordinary share since this current phase commenced. In line with corporate governance and capital reduction strategies, Airtel Africa confirmed that all ordinary shares acquired through the programme will be subsequently cancelled.

Jide, a seasoned journalist with over 12-year experience, reports business-related stories