Airtel Africa Plc has increased the size of its ongoing share buyback programme, purchasing more than 927,000 ordinary shares between August 10 and 14, 2026. The company said the shares will be cancelled, reducing the total number of shares in circulation.
The latest purchase involved 927,133 shares and was carried out through Barclays Capital Securities Limited across major European trading platforms, including the London Stock Exchange, BATS Europe, CHI-X Europe, Aquis Exchange and Turquoise.
During the five trading days, Airtel Africa bought shares at prices ranging from 323.00 pence to 329.60 pence. The largest purchase came on Monday, when 499,275 shares were acquired at an average price of 325.0613 pence.
The company purchased another 83,351 shares on Tuesday at an average of 323.7478 pence. On Wednesday, it bought 290,000 shares at 325.2560 pence, followed by 26,499 shares on Thursday at 325.0749 pence. The programme ended the week with 28,408 shares purchased on Friday at an average price of 326.5127 pence.
Since the buyback began on May 22, Airtel Africa has now repurchased 18,338,632 shares, with the transactions completed at an overall volume-weighted average price of 337.11 pence per share.
The telecommunications company also announced an important change to its agreement with Barclays Capital Securities Limited. Airtel Africa has increased the maximum value of discretionary share purchases by $15 million, taking the limit from $50 million to $65 million.
The buyback programme will continue to operate through two main channels. Under the non-discretionary arrangement, Barclays can independently purchase between $50 million and $60 million worth of Airtel Africa shares. The discretionary section allows the company to provide specific instructions for purchases of up to $65 million.
Airtel Africa said the purpose of the programme remains unchanged: to reduce the company’s share capital. All shares purchased under the programme are expected to be cancelled rather than held as treasury shares.
The move comes as Airtel Africa continues to operate in challenging economic conditions across several African markets. Currency depreciation, particularly in Nigeria, has created pressure on the company’s financial performance because revenues generated in local currencies can lose value when converted into dollars.
For investors, the buyback could provide another way for Airtel Africa to return value to shareholders. By reducing the number of shares in circulation, the company can potentially improve earnings per share when profits remain stable or increase.
The expanded programme also signals management’s willingness to deploy capital into its own shares while navigating currency volatility and changing market conditions.
For shareholders, the cancellation of the repurchased shares could make each remaining share represent a slightly larger ownership interest in the company.
