Airtel Africa boosts share buyback cap to $65m

Airtel Africa Plc, a telecommunications giant operating in Africa, has significantly increased its share buyback program to $65m. This adjustment marks a substantial raise from the initial $50m cap established in May 2026. The company, through Barclays Capital Securities Limited, has thus far repurchased 18,338,632 shares at an average price of $337.11 each.

The modifications to the buyback agreement allow Airtel Africa to issue specific purchase orders valued up to $65m, beyond the non-discretionary range of $50m to $60m. This strategic move aims to reduce the company's capital, counteract foreign exchange pressures, and enhance key shareholder metrics like net asset value and earnings per share.