Airtel Africa PLC has successfully repurchased 15,240,082 of its ordinary shares as part of its ongoing share buyback initiative, which commenced on December 23, 2024. This move reinforces the company’s commitment to enhancing shareholder value and optimising its capital structure.
The repurchase was executed at an average price of 118.8 Great Britain Pence (GBp) per share, as disclosed in a Notification of Transaction published on the Nigerian Stock Exchange (NGX) website.
In an official statement, the company announced: “Airtel Africa has purchased the following number of its ordinary shares of USD 0.50 each from Barclays Capital Securities Limited pursuant to its authority granted by shareholders as part of its share buyback programme, details of which were announced on 23 December 2024.”
Airtel Africa confirmed that all repurchased shares will be cancelled, thereby reducing the total number of outstanding shares and improving the company’s financial flexibility. The buyback was executed at a weighted average price of 118.8187 GBp per share, with the highest price paid reaching 137.00 GBp, while the lowest stood at 135.80 GBp.
The buyback forms part of Airtel Africa’s $100 million share repurchase programme, initially announced in December 2024. The initiative aims to consolidate the company’s financial position by reducing the volume of shares in circulation, consequently increasing earnings per share (EPS) and boosting market confidence.
This marks Airtel Africa’s second share repurchase initiative, reflecting the company’s confidence in its financial standing and long-term strategic vision. Share buybacks are a widely used strategy among publicly traded firms to enhance shareholder returns and stabilise stock performance.
As one of Africa’s leading telecom providers, Airtel Africa continues to navigate the region’s dynamic economic landscape while maintaining a strong balance sheet. The company’s stock has witnessed fluctuations in recent months, making this buyback a calculated effort to strengthen investor confidence and drive long-term growth.
