Airtel Africa has officially kicked off the second phase of its $100 million share buy-back programme, confirming its continued effort to cut down company capital. The new tranche, launched today, will see a maximum of $55 million used to repurchase ordinary shares. This follows an earlier announcement made in December 2024 and comes after the successful completion of the first phase.
According to the company, this latest share buy-back will run until 19 November 2025 or end earlier if the full amount is utilised. In a new development, Airtel Africa has partnered with Barclays Capital Securities Limited, giving the firm authority to handle the on-market transactions. Under this deal, Barclays will act as a risk-less principal, making independent decisions throughout the process.
“The only goal of this programme is to reduce the company’s capital base,” Airtel Africa reiterated. All shares purchased during this period will be permanently cancelled and will not be returned to circulation.
This second tranche will be executed under specific conditions agreed upon with Barclays and aligned with the company’s authority to repurchase shares granted by shareholders. As approved at its Annual General Meeting in July 2024, Airtel Africa still holds the right to repurchase up to 302.5 million ordinary shares after the first tranche reduced the previous capacity.
The company also emphasised that all transactions will comply with UK’s Financial Conduct Authority Listing Rules, as well as the EU Market Abuse Regulation adopted into UK law. Notably, purchases may continue even during closed periods, allowing flexibility in the buy-back process.
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