Airtel Africa Increases Share Buyback Cap to $65 Million

Airtel Africa Plc has announced the purchase and planned cancellation of 927,133 of its ordinary shares, acquired between 10 and 14 August 2026, as part of its ongoing share buyback initiative. The transactions were executed through Barclays Capital Securities Limited across major trading venues, including the London Stock Exchange.

The share prices during this period ranged from 323.00 GBp to 329.60 GBp. Since the buyback initiative's launch on 22 May 2026, Airtel Africa has repurchased a total of 18,338,632 ordinary shares at an average price of 337.11 GBp per share.

The company has amended its agreement with Barclays, raising the maximum limit for discretionary purchase orders from $50 million to $65 million. The buyback program is structured in two streams: a non-discretionary component and an expanded discretionary component.

The primary goal of these repurchases is to reduce the company’s capital, with all acquired shares set to be cancelled. This strategy comes amid significant foreign exchange pressures in Nigeria, impacting earnings and revenue.