By Benson Daniel
Airtel Africa Plc has increased the amount earmarked for its ongoing share buyback programme to $65 million, reinforcing its commitment to returning value to shareholders while maintaining financial flexibility for further investment across its African operations.
The telecommunications and mobile money company had launched the current buyback programme in May 2026, with the objective of repurchasing up to one per cent of its issued share capital. The programme forms part of the company’s broader capital allocation strategy, which combines shareholder returns with continued investment in network expansion and digital services.
As of June 30, Airtel Africa had already purchased approximately 10.2 million shares for a total consideration of $46.6 million. The shares acquired under the programme are expected to be cancelled, reducing the company’s outstanding share capital.
The latest increase in the buyback limit comes as the company continues to report stronger operating performance across its markets. In the first quarter of its 2027 financial year, Airtel Africa recorded group revenue of $1.85 billion, representing a 31 per cent increase in reported currency and 21.1 per cent growth in constant currency.
Nigeria remained one of the key contributors to the performance, with revenue from the Nigerian business increasing by 29.8 per cent during the quarter.
The company’s improved financial position has also supported its shareholder return strategy. Airtel Africa reported that leverage had declined to 1.7 times from 2.2 times, while lease adjusted leverage improved to 0.5 times from 0.9 times.
The company said the decision to proceed with the buyback reflects the strength of its balance sheet and its confidence in the long term growth prospects of its operations across Africa.
The buyback is being executed through market purchases, with the acquired shares subsequently cancelled. By reducing the number of shares in circulation, the programme could support earnings per share and increase the proportionate ownership interest of remaining shareholders, subject to the company’s future earnings and market performance.
Airtel Africa has continued to expand its network infrastructure and digital platforms as demand for mobile data and financial services rises across its operating markets. The company has also been investing heavily in network capacity, fibre infrastructure and digital services to support growing customer usage.
The group’s customer base reached 183.5 million in the 2026 financial year, while mobile money customers increased to 54.1 million. Data usage has also continued to grow rapidly as smartphone adoption increases across the company’s markets.
The latest buyback commitment therefore comes at a time when Airtel Africa is seeking to balance investment in growth with stronger returns to shareholders.
The company’s management is expected to continue monitoring its financial position, market conditions and investment requirements as the buyback programme progresses.
The development is likely to attract further attention from investors on both the Nigerian Exchange and London Stock Exchange, where Airtel Africa is listed, as the company continues to pursue a combination of business expansion, debt reduction and shareholder returns.
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