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Airtel Africa has launched a share buyback programme aimed at repurchasing up to one per cent of its issued share capital, as the telecoms giant moves to strengthen shareholder value while maintaining financial flexibility for future investments.

In a statement signed by the company’s Group Company Secretary, Simon O’Hara, Airtel Africa said the programme began on May 22, 2026, and will run until no later than November 27, 2026, unless concluded earlier.

The company disclosed that it entered into an agreement with Barclays Capital Securities Limited to manage the first tranche of the buyback exercise. Under the arrangement, Barclays will purchase Airtel Africa shares from the open market and transfer them to the company for cancellation.

 

According to the company, the buyback includes a non-discretionary component covering between $50 million and $60 million worth of shares. Airtel Africa also has the option to instruct Barclays to acquire up to an additional $50 million worth of shares, subject to regulatory approvals.

The company explained that all repurchased shares would be cancelled in line with shareholder-approved limits, UK Listing Rules, and Market Abuse Regulations. The move is expected to improve earnings per share and enhance overall capital efficiency for investors.

 

The development comes as Airtel Africa continues preparations for a possible initial public offering of its mobile money business, Airtel Money. Reports suggest the proposed listing could raise between $1.5 billion and $2 billion, with London currently considered the preferred destination for the IPO, although exchanges in the United Arab Emirates and parts of Europe are also under consideration.

Industry estimates indicate that Airtel Money could be valued at up to $10 billion, highlighting growing investor confidence in African fintech and digital payment businesses.

 

Airtel Africa, one of the continent’s largest telecom operators, is largely owned by Sunil Bharti Mittal through Bharti Enterprises. The company’s mobile money division has emerged as one of its fastest-growing segments, supported by increasing demand for digital financial services and financial inclusion across Africa.

The buyback programme also follows efforts by Bharti  Airtel to increase its ownership stake in Airtel Africa ahead of the planned Airtel Money listing. Reports indicate that Mittal plans to raise the group’s stake to as much as 90 per cent through a $2.9 billion share swap arrangement designed to consolidate control ahead of future capital market activities.

Airtel Africa currently operates in 14 African countries and continues to benefit from rising smartphone adoption, increasing data consumption, and stronger demand for digital payment solutions.

For the financial year ended March 31, 2026, the company reported strong earnings growth. Pretax profit rose by 114.67 per cent year-on-year to $1.41 billion, while revenue climbed to $6.4 billion from $4.9 billion in the previous year.

Data revenue contributed $2.5 billion, voice revenue generated $2.3 billion, and mobile money services brought in $1.08 billion, underlining the growing importance of digital services to the company’s long-term expansion strategy.