Airtel Africa has announced the launch of a new share buyback programme worth up to $110 million as the telecoms giant moves to strengthen shareholder value ahead of the planned public listing of its mobile money business.
The company disclosed the development in a statement released on May 22, 2026, confirming that the repurchase initiative could cover up to 1% of its issued share capital.
According to the statement signed by Group Company Secretary Simon O’Hara, the programme is designed to improve capital efficiency while allowing the company to continue investing across its African operations.
Under the arrangement, Barclays Capital Securities Limited will manage the initial phase of the buyback through on-market purchases of Airtel Africa ordinary shares.
The shares acquired under the programme will later be transferred to the company and cancelled.
The initial tranche contains a non-discretionary component valued between $50 million and $60 million, which Barclays will execute independently.
Airtel Africa also retains the option to authorize an additional discretionary purchase of up to $50 million, subject to regulatory approvals.
The company stated that the programme commenced on May 22 and is expected to run until November 27, 2026, unless concluded earlier. Airtel Africa noted that additional tranches may be introduced as part of its broader strategy to repurchase up to 1% of its issued share capital.
By cancelling the repurchased shares, the telecoms operator expects to reduce its capital base and potentially enhance earnings per share for investors.
Airtel Money IPO Plans Gather Momentum
The buyback announcement comes as Airtel Africa continues preparations for a potential initial public offering of Airtel Money, its rapidly expanding financial services arm.
Industry reports suggest the IPO could raise between $1.5 billion and $2 billion, with London emerging as the leading destination for the listing. Exchanges in the United Arab Emirates and parts of Europe are also said to be under consideration.
Analysts estimate the listing could value Airtel Money at nearly $10 billion, reflecting growing investor appetite for African fintech and digital payment businesses.
Airtel Africa remains one of the continent’s largest telecommunications operators, with operations across 14 African countries. The company is primarily controlled by Indian telecom billionaire Sunil Bharti Mittal through Bharti Enterprises.
Bharti Airtel Expands Ownership Position
The latest move also follows efforts by Bharti Airtel to strengthen its ownership stake in Airtel Africa ahead of future capital market activities involving Airtel Money.
Mittal recently revealed plans for Bharti Airtel to increase its holding in Airtel Africa to as much as 90% through a proposed $2.9 billion share swap deal.
The strategy is viewed as part of a wider effort to consolidate the group’s African operations as demand for mobile connectivity, fintech solutions, and digital financial services continues to rise across the continent.
Mittal has repeatedly described Africa as a major long-term growth market, pointing to strong opportunities in telecom infrastructure, smartphone adoption, and digital payments.
Strong Financial Performance Supports Expansion
Airtel Africa also posted strong earnings for the financial year ended March 31, 2026, driven largely by growth in data services and mobile money transactions.
The company reported pretax profit of $1.41 billion, representing a year-on-year increase of more than 114%.
Revenue climbed from $4.9 billion to $6.4 billion during the period, with data revenue contributing $2.5 billion and voice services generating $2.3 billion.
Airtel Money contributed approximately $1.08 billion in revenue, underlining the growing importance of digital financial services within the group’s business model.
The company’s performance has been supported by increased smartphone penetration, higher internet usage, and rising adoption of mobile-based financial solutions across African markets.
