Airtel Africa Plc has officially commenced the second tranche of its second $100 million share buy-back programme, following the successful completion of the first tranche communicated on 23rd December 2024.
The announcement was made in a disclosure published on the Nigerian Exchange (NGX) on 14th May 2025—the same day the new tranche would commence—signed by the Company Secretary, Simon O’Hara.
As outlined in the disclosure, this tranche of the buyback is valued at $55 million and is expected to be completed on or before 19th November 2025.
Reiterating the purpose of the initiative, the company stated:
“The sole purpose of the buy-back programme is to reduce the capital of the company. As such, all shares purchased under the buy-back programme will be cancelled.”
To carry out the buy-back, Airtel Africa has entered into an agreement with Barclays Capital Securities Limited to execute on-market purchases of its ordinary shares.
Barclays will act as a riskless principal, making trading decisions independently of the company and executing all transactions in line with pre-agreed terms previously granted by shareholders of Airtel.
In addition to reducing share capital, the buyback is expected to strengthen Airtel Africa’s balance sheet by lowering debt exposure and minimizing cash obligations related to capital maintenance.
Backstory
Following the completion of its initial $100 million share buy-back programme, which began in March 2024, Airtel Africa announced the launch of a second phase on 23rd December 2024.
According to the company’s disclosure, the second phase is structured in two tranches.
- The first tranche, which commenced on the same day as the announcement—23rd December 2024—is expected to conclude on or before 24th April 2025. This tranche was capped at $50 million.
- The second tranche, which commenced on 14th May 2025, is scheduled to complete the remaining portion of the $100 million programme.
Surge in profitability
Airtel Africa released its financial results for the period ended 31st March 2025, reporting a pre-tax profit of $661 million, a significant turnaround from the pre-tax loss of $63 million recorded in the 2024 financial year.
Profit after tax stood at $328 million, up from a loss of $89 million in the prior year, which was heavily impacted by derivative and foreign exchange losses, particularly in Nigeria.
- Strong execution and tariff adjustments in Nigeria drove another quarter of accelerating growth, with Q4 2025 revenue increasing by 23.2% in constant currency and 17.8% in reported currency, as currency headwinds eased.
Commenting on the results, Sunil Taldar, Chief Executive Officer, stated:
“An improving operating environment and focused execution contributed to strong momentum in our financial results, with constant currency revenue growth peaking at 23.2% in Q4 2025.
Part of this acceleration in the last quarter was also driven by the tariff adjustment in Nigeria.”
