Airtel Africa Plc has announced the launch of a share buyback programme aimed at repurchasing up to 1 per cent of its issued share capital.
The company disclosed the development in a statement dated May 22, 2026, signed by Group Company Secretary Simon O’Hara.
According to Airtel Africa, the buyback initiative reflects its commitment to returning value to shareholders while maintaining financial flexibility to support ongoing investments across its African operations.
The telecom operator said it has entered into an agreement with Barclays Capital Securities Limited to execute the first tranche of the programme.
Under the arrangement, Barclays will act as a riskless principal by purchasing Airtel Africa’s ordinary shares on the open market before transferring them to the company for cancellation.
The programme includes a non-discretionary element under which Barclays will independently purchase between $50 million and $60 million worth of shares.
Airtel Africa also retains the option to direct Barclays to acquire up to an additional $50 million worth of shares under a discretionary element, subject to regulatory approvals.
“The programme begins today and is scheduled to run until no later than November 27, 2026, unless terminated earlier. Airtel Africa may announce further tranches to meet its target of repurchasing 1% of its issued share capital,” the company stated.
The company added that all repurchased shares would be cancelled in line with shareholder-approved limits, UK Listing Rules, and Market Abuse Regulations.
Analysts expect the programme to improve shareholder value through stronger earnings per share and enhanced capital efficiency.
The development comes as Airtel Africa intensifies preparations for a possible initial public offering of its mobile money subsidiary, Airtel Money.
Reports indicate that the planned IPO could raise between $1.5 billion and $2 billion, with London emerging as the preferred listing destination.
The company has also explored listing opportunities in the United Arab Emirates and other European markets.
Industry estimates suggest Airtel Money could attract a valuation of up to $10 billion amid growing investor interest in African fintech and digital payment businesses.
Airtel Africa is Africa’s third-largest wireless carrier and is largely controlled by Sunil Bharti Mittal through Bharti Enterprises Ltd.
The company’s mobile money business has become one of its fastest-growing segments due to increasing demand for digital financial services across Africa.
The share buyback announcement follows recent moves by Bharti Airtel to increase its ownership stake in Airtel Africa ahead of the planned Airtel Money IPO.
Mittal recently disclosed plans to raise the group’s ownership in Airtel Africa to as much as 90 per cent through a proposed $2.9 billion share swap arrangement.
According to Bloomberg, the move is designed to strengthen the group’s strategic position ahead of future capital market activities involving Airtel Money.
Airtel Africa currently operates in 14 African countries and continues to benefit from growing demand for mobile connectivity, smartphone adoption, and financial inclusion services.
Mittal described Africa as a critical long-term growth market for the group, highlighting strong opportunities in telecommunications and digital payments.
The company also reported strong financial performance for the year ended March 31, 2026.
Pretax profit rose by 114.67 per cent year-on-year to $1.41 billion, while revenue increased to $6.4 billion from $4.9 billion recorded in the previous year.
Data revenue contributed $2.5 billion, while voice services generated $2.3 billion.
Mobile money operations delivered $1.08 billion in revenue, further reinforcing Airtel Africa’s digital expansion strategy across the continent.
