On Tuesday, Airtel Africa announced that it had repurchased approximately 66,089 of its ordinary shares, each valued at $0.50, from Barclays Capital Securities Limited. This move is part of the company’s ongoing share buy-back program, authorized by its shareholders, which was initially announced on December 23, 2024. The purchase, made on Monday, March 10, involved an aggregate of 66,089 ordinary shares at a price of N143.70 per share. The highest price paid during this transaction was N144 per share, with a volume-weighted average price of N143.96 per share. Since the commencement of the share buy-back program, Airtel Africa has repurchased a total of 16,750,765 ordinary shares at a volume-weighted average price of 120.8955 GBp per ordinary share. This significant repurchase effort underscores the company’s commitment to returning value to its shareholders and optimizing its capital structure. The share buy-back program aims to enhance shareholder value by reducing the number of outstanding shares, thereby increasing the ownership stake of existing shareholders. Additionally, it signals the company’s confidence in its financial stability and future growth prospects. Airtel Africa’s decision to repurchase shares aligns with broader market trends, where companies engage in buy-backs to boost share prices and improve financial ratios. This strategic move is expected to provide liquidity to shareholders and support the company’s stock price in the market. The telecoms firm has been actively investing in its infrastructure and expanding its services across the continent. The ongoing share buy-back program is part of Airtel Africa’s broader strategy to strengthen its financial position while continuing to deliver innovative solutions to its customers. The company’s recent performance has been marked by steady growth in subscriber numbers and increased revenue, driven by the rising demand for mobile and internet services in Africa. As Airtel Africa continues to execute its growth plans, the share buy-back program serves as a testament to its commitment to creating long-term value for its shareholders.
