Transaction in Own Shares
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Airtel Africa plc
(‘Airtel Africa’, or the ‘Company’)
Commencement of share buyback programme
London and Lagos, 5 November 2026: Airtel Africa, a leading provider of telecommunications and mobile money services with operations in 14 countries across Africa, announces that it is today commencing the next tranche of the share buyback programme (the “Programme”) originally announced on 22 May 2026. The Programme continues the Company’s broader approach to returning cash to shareholders as part of its capital allocation policy.
As previously announced, the Company’s share buyback programme provides for the repurchase of up to 1% of the Company’s issued share capital as at 22 May 2026, being the date on which the Programme was announced. Following completion of the first tranche of the buyback, announced on 28 September 2026 (the “Initial Tranche”), the remaining Board authority currently provides for the repurchase of up to 12,033,748 ordinary shares (being 0.33% of the Company’s total issued share capital as at 22 May 2026).
The Company has entered into agreements with Citigroup Global Markets Limited (“Citi”) to conduct the next tranche of the Programme (the “Further Tranche”) and carry out on-market purchases of its ordinary shares with the Company subsequently purchasing its ordinary shares from Citi (the “Agreements”). Citi will act as riskless principal pursuant to the Agreements.
The Agreements entered into with Citi in respect of the Further Tranche comprise two elements which will operate in parallel:
- a non-discretionary element pursuant to which Citi will purchase ordinary shares and will make trading decisions independently of the Company; and
- a discretionary element pursuant to which the Company may, at its discretion and subject to the provisions of the Market Abuse Regulation (EU) No 596/2014 (as it forms part of domestic law by virtue of the European Union (Withdrawal) Act 2018, as amended), provide instructions to Citi for the purchase of ordinary shares.
The Agreements have commenced today and are anticipated to terminate no later than 22 December 2026, unless terminated earlier in accordance with its terms.
The sole purpose of the buyback programme is to reduce the capital of the Company. As such, all shares purchased under the buyback programme will be cancelled.
Any purchases of ordinary shares under either element of the Agreements will be carried out in accordance with certain pre-set parameters set out in the Agreements and in accordance with (and subject to the limits prescribed by) the Company's general authority to repurchase ordinary shares granted by its shareholders from time to time (at the annual general meeting on 9 July 2026, shareholders gave the Company authority to purchase a maximum of 364,577,234 ordinary shares and following the completion of the Initial Tranche, the remaining authority amounts to a maximum of 352,727,390 ordinary shares), Financial Conduct Authority's UK Listing Rules 9.6 and the provisions of the Market Abuse Regulation (EU) No 596/2014 (as it forms part of domestic law by virtue of the European Union (Withdrawal) Act 2018, as amended). The discretionary arrangements may include irrevocable, non-discretionary instructions to Citi to continue to operate the buyback programme during closed periods. Citi will therefore operate the discretionary element of buyback programme autonomously during those periods. For the avoidance of doubt, no repurchases will be made on the Nigerian Stock Exchange.
-ENDS-
Enquiries
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Airtel Africa – Investor Relations Alastair Jones |
+44 7464 830 011 +44 207 493 9315 |
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Airtel Africa - Group Company Secretary Simon O’Hara
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+44 207 493 9315
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About Airtel Africa
Airtel Africa is a leading provider of telecommunications and mobile money services, with operations in 14 countries in sub-Saharan Africa. Airtel Africa provides an integrated offer to its subscribers, including mobile voice and data services as well as mobile money services both nationally and internationally. The company’s strategy is focused on providing a great customer experience across the entire footprint, enabling our corporate purpose of transforming lives across Africa.
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