Photo: Airtel Africa Head office
Airtel Africa commenced a share buyback programme valued at up to $110 million from today May 22, 2026, and is expected to run until no later than November 27, 2026, unless terminated earlier in line with the terms of the agreement.
The company disclosed in a notice filed on the portal of the Nigerian Exchange Limited (NGX) that the programme would involve the repurchase of up to 1 percent of its issued share capital as part of its capital allocation policy.
“The sole purpose of the buyback programme is to reduce the capital of the Company. As such, all shares purchased under the buyback programme will be cancelled,” the notice stated.
According to the company, it had entered into an agreement with Barclays Capital Securities Limited to execute the programme through on-market purchases of its ordinary shares, which would subsequently be acquired by the company.
The agreement, according to the notice, consists of two parallel elements.Under the non-discretionary arrangement, Barclays will independently purchase between $50 million and $60 million worth of ordinary shares without influence from the company.
The second component is a discretionary arrangement under which Airtel Africa may instruct Barclays to purchase up to an additional $50 million worth of shares, subject to the provisions of the Market Abuse Regulation.
