LONDON, March 9, 2026, 23:18 GMT
Airtel Africa on Monday disclosed it snapped up 80,000 of its own shares, paying an average price of 345.59 pence apiece. The latest purchase adds to the telecom operator’s $100 million buyback program, which the company still expects to wrap up by March 31. 1
The timing of the filing is notable, coming as the London-listed telecom group pushes ahead with plans to float Airtel Money—its mobile payments arm—in the first half of 2026. Back in January, Airtel reiterated its target, saying the unit that enables money transfers via mobile phones remained on course for that window. 2
Airtel picked up those shares on March 6, opting to hold them in treasury instead of retiring them right away. The company reported 3.645 billion voting rights still outstanding post-buyback, with total buybacks under the program now at 44.1 million shares. 1
Mobile money customer numbers hit 52 million, with annualised processed value now above $210 billion, chief executive Sunil Taldar said in the January trading update. “We remain on track for the listing of Airtel Money in the first half of 2026,” Taldar added. 2
Airtel Africa posted $4.667 billion in revenue and $586 million profit after tax for the nine months ended Dec. 31. The company, active in 14 sub-Saharan African markets, saw reported earnings get a lift from higher data consumption, stronger mobile money activity, and gains in African currencies—most notably the Nigerian naira. 2
In its half-year filing, the company said the $100 million buyback was divided into two phases. The first $45 million was wrapped up in April 2025, while $34.7 million from the second tranche had been returned to shareholders by Sept. 30. Under updated terms, Barclays Capital Securities Limited is now authorized to keep purchasing shares in closed periods through March 31, 2026. 3
That buyback has become more closely linked to Airtel Money’s possible spin-off from the main telecom unit, according to investors. Back in November, Reuters highlighted Deutsche Bank’s John Karidis, who put a minimum 13x forward core earnings value on the money business—a multiple almost twice what Airtel’s telecom arm commands on operating profit. Harding Loevner’s Sergey Dubin also told Reuters there’s “still upside” ahead of the listing. 4
Airtel managed to pull ahead of rivals like Safaricom, MTN, and Vodacom—each saw gains last year, but Airtel’s surge was driven mostly by bets that spinning off its mobile money arm would unlock more value than its core telecom units. Investors are eyeing that prospect for a higher standalone valuation. 4
But risks remain. Airtel’s dollar earnings have previously taken a hit from African currency swings—most notably the naira. Back in November, Reuters flagged the potential for currency volatility and shifting regulatory conditions to dampen returns, even if the money unit hits its listing deadline. 4
The filing showed 61,567 shares were picked up on the London Stock Exchange during Monday’s purchase. The remainder landed across BATS Europe, CHI-X Europe, Aquis, and Turquoise. 1
