Airtel Africa starts second share buyback tranche of 12 million shares
- Airtel Africa has begun the second tranche of its share buyback, targeting up to 12.03 million shares.
- The shares, about 0.33% of issued capital, will be bought through Citigroup and then cancelled.
- The company says no purchases will be made on the Nigerian Exchange.
Airtel Africa has started the second round of its share buyback programme, aiming to repurchase up to 12,033,748 ordinary shares — about 0.33 per cent of the company's issued share capital as of May 22, 2026.
The telecoms and mobile money group announced the move in a regulatory notice dated November 5. It follows the completion of the first tranche on September 28, 2026.
The buyback is part of the company's plan to return cash to shareholders. The original programme, announced on May 22, allowed for repurchases of up to 1 per cent of issued share capital.
How the new tranche works
Airtel Africa has signed agreements with Citigroup Global Markets Limited (Citi) to buy the shares in the market and then sell them on to the company. Citi replaces Barclays, which handled the first tranche.
The arrangement has two parts running side by side. In one, Citi decides on trades on its own. In the other, Airtel Africa can give Citi instructions on purchases, within set rules.
The agreements began on Thursday and are expected to end by December 22, 2026, unless stopped earlier.
All shares bought will be cancelled. Airtel Africa said the only aim of the programme is to reduce the company's capital. Cancelling shares can raise the share of the company held by investors who keep their stock.
Shareholders at the annual general meeting on July 9, 2026 gave the board authority to buy up to 364,577,234 ordinary shares. After the first tranche, that authority stands at 352,727,390 shares. This tranche is limited to the 12.03 million shares left under the May programme.
The company said no shares will be bought on the Nigerian Exchange Limited (NGX). Purchases will follow UK listing rules and market abuse regulations.
Nairametrics reported that the programme began in May 2026 as a $110 million buyback. By September 23, about 19.91 million shares had been repurchased at a cumulative volume-weighted average price of 336.05 pence per share.
What happens next
The buyback runs until December 22 at the latest. Investors will watch whether the company uses the full 12.03 million shares before then.
