Airtel Africa Launches $100M Share Buyback Programme

Airtel Africa, a leading provider of telecommunications and mobile money services, with a presence in 14 countries across Africa, announces the commencement of a second share buyback programme that will return up to $100 million to shareholders. 

The share buyback reflects the Board’s confidence in the Company’s continued growth potential, the strength of its balance sheet and the consistent cash accretion at the holding company level. Furthermore, the buyback remains in line with the Company’s existing capital allocation policy. The programme will be executed in accordance with applicable securities laws and regulation.

The share buy-back programme is expected to be phased over two tranches, with the first tranche commencing today and anticipated to end on or before 24 April 2025. The first tranche will amount to a maximum of $50 million. The Company has entered into an agreement with Barclays Capital Securities Limited (“Barclays”) to conduct the first tranche of the buy-back and carry out on-market purchases of its ordinary shares with the Company subsequently purchasing its ordinary shares from Barclays. Under this agreement, Barclays will act as riskless principal and will make decisions independently of the Company.

The sole purpose of the buy-back programme is to reduce the capital of the Company. As such, all shares purchased under the buy-back programme will be cancelled.