Airtel Africa Plc has announced the repurchase of 1.25 Million Shares of its ordinary shares as part of its ongoing share buyback program, according to a corporate action notice published on the website of the Nigerian Exchange Group (NGX).
The notice, dated March 4, 2025, disclosed that the repurchase transactions were carried out between February 26, 2025, and February 29, 2025. The total cost of the shares acquired was not stated in the document, but the company emphasized that the repurchased shares will be held in treasury.
The move is in line with Airtel Africa’s broader strategy to enhance shareholder value by returning excess capital to investors. Share buybacks reduce the number of shares in circulation, which can improve earnings per share (EPS) and potentially boost share price performance over time.
This latest repurchase follows a series of buybacks initiated by the company in recent months, underscoring Airtel Africa’s confidence in its long-term growth prospects. The telecoms and mobile money giant, which operates in 14 African countries, has seen consistent revenue growth driven by strong demand for data services and digital payments.
Airtel Africa’s Journey: From Econet to a Pan-African Giant
Airtel Africa has had a long and transformative history in Nigeria, a market that remains central to its operations. The company first entered Nigeria’s telecoms industry in 2001 as Econet Wireless, one of the pioneers of GSM mobile services in the country. It underwent multiple ownership changes, becoming Vmobile in 2004, Celtel in 2006, Zain in 2008, and ultimately Airtel in 2010 after Bharti Airtel, an Indian telecoms giant, acquired Zain’s African assets in a landmark $10.7 billion deal.
Since then, Airtel Africa has expanded its footprint beyond traditional mobile services, emerging as a leading player in fintech and mobile money solutions across the continent. The company was listed on both the London Stock Exchange (LSE) and NGX in 2019, cementing its status as a top-tier telecoms and fintech operator in Africa.
Investor Confidence and Market Impact
Airtel Africa’s shares are dual-listed on the NGX and LSE. The share buyback programme reflects the company’s commitment to active capital management, even as it continues to invest in network expansion and fintech innovations across its key markets.
The company’s financial results for Q3 2024, released earlier this year, showed a strong double-digit revenue increase, particularly in its data and mobile money segments, despite macroeconomic challenges in some markets.
With this latest transaction, the total number of shares held in treasury by Airtel Africa now stands at [update if available in the full report], reducing the free float on the NGX and LSE.
Market analysts say the buyback could signal management’s belief that Airtel Africa shares are undervalued, potentially boosting investor confidence. The company has reiterated its commitment to transparent reporting and regular communication with investors regarding further transactions under the buyback programme.
