Airtel Africa Plc has started a fresh tranche of its share buyback programme, targeting the repurchase of up to 12.03 million ordinary shares, which represent 0.33% of its issued share capital, the company said in a corporate announcement dated November 5, 2026.
This latest tranche is part of a broader buyback programme that the company initially announced on May 22, 2026, as part of its capital allocation policy to return cash to shareholders. The new tranche is expected to run until December 22, 2026, unless terminated earlier. It follows the completion of the first tranche on September 28, 2026, which left the company with board authority to repurchase an additional 12,033,748 ordinary shares.
Citigroup Global Markets Limited will execute the new arrangement, taking over from Barclays, which handled the earlier tranche. The company said all purchases will be conducted within pre-set parameters and in full compliance with applicable UK listing rules and market abuse regulations. Airtel Africa stated that the sole purpose of the programme is to reduce the company's capital, meaning all shares acquired will be cancelled.
The arrangement includes discretionary provisions that allow Citi to continue operating the buyback programme using irrevocable, non-discretionary instructions during closed periods, when the company cannot normally execute such transactions. For shareholders, the buyback reduces the number of shares in circulation, which can increase earnings per share if company profits remain stable or grow.
Airtel Africa has been executing the buyback programme since May 2026, having already repurchased millions of shares as part of its ongoing efforts to return cash to its investor base through share cancellations rather than dividends.