Airtel Africa Buy-Back 12 Million Shares in Two Months

In a significant development, Airtel Africa has repurchased (buy-back) a whopping 12 million shares of its own stock in the past two months.

This buy-back program signals Airtel’s confidence in its future and could potentially benefit both the company and its shareholders.

Business Remarks findings revealed that Airtel Africa Plc has actively pursued its share buy-back programme, purchasing 40,921 ordinary shares at prices ranging between 107.10 and 107.80 British Pounds (GBp) on the London Stock Exchange.

A share buy-back, also known as a stock buy-back, happens when a company uses its own cash to repurchase its outstanding shares from the stock market. By reducing the total number of shares available, the buy-back can sometimes make the remaining shares more valuable.

This is part of a bigger plan they announced in March to buy back $100 million worth of shares over the next year and also aim to buy back shares worth $50 million by August 2024.

It’s a long-term strategy aimed at getting Airtel Africa back on track financially.

As part of an ongoing effort, the company had acquired nearly 12 million shares at an average price of 98.86 GBp since March 1st, 2024.

These shares are set to be cancelled, indicating the company’s strategy to potentially enhance shareholder value.

What This Move Means

Stronger Airtel: Airtel had a bit of a tough year in 2023. This buy-back program is like a financial exercise plan to get them back on track.

Airtel remains a major player across Africa, providing phone and mobile money services in 14 countries, including Nigeria of course.

This buy-back program shows they’re committed to being a strong company for the future, which could benefit you as a customer or someone who owns shares in Airtel.