Airtel Africa Plc (AAF) AI Stock Analysis

• Market Cap: £11.64B
• Dividend Yield: 1.5%
• Average Volume (3M): 3.69M
• Price to Earnings (P/E): 28.9
• Beta (1Y): 1.40
• Revenue Growth: 14.13%
• EPS Growth: N/A
• Country: UK
• Employees: 4,189
• Sector: Communication Services
• Sector Strength: 97
• Industry: Telecommunications Services
• EPS (TTM): 0.04
• Shares Outstanding: 3,647,592,000
• 10 Day Avg. Volume: 3,430,308
• 30 Day Avg. Volume: 3,690,929
• PEG Ratio: 0.24
• Price to Book (P/B): 2.28
• Price to Sales (P/S): 0.99
• P/FCF Ratio: 4.01
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: £320.51
• Price Target Upside: -1.98% Downside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 2
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 53 Neutral
• Price Target: 347.00p ▲(6.12% Upside)

The score is held back mainly by leveraged financial structure and a relatively expensive valuation (high P/E, modest yield). Technicals are mixed with short-term weakness but longer-term trend support, while the earnings call was a meaningful positive due to strong operational growth, margin improvement, and improving financing metrics.

Positive Factors

Operating profitability & cash generation

High reported EBITDA margin (~49%) and sizable TTM free cash flow (~$2.05B) create durable internal funding for network build, Airtel Money scaling and debt reduction. Strong operating cash generation supports reinvestment and resilience across currency and macro cycles.

Airtel Money scale and margins

Airtel Money's large customer base and >$210B annualized TPV, combined with EBITDA margins above 50%, provide a high-margin digital payments engine. This drives durable monetization, cross-sell opportunities and diversification away from declining voice revenue, boosting long-term cash returns.

Network investment with disciplined CapEx

Sustained, targeted capex (guidance $875–900m) and material network expansion (2,500 sites, >81,500km fiber) strengthen capacity and coverage. Durable infrastructure investment supports higher data ARPU, smartphone adoption and long-term competitive positioning in under‑penetrated markets.

Negative Factors

Elevated balance-sheet leverage

Debt-to-equity near 2.3x increases financial vulnerability to rate rises and currency shocks. Operating cash to debt coverage (~0.55) is moderate, limiting flexibility for opportunistic investments or large M&A and raising refinancing risk in stressed macro scenarios.

Historical earnings volatility

Past swings to net losses despite strong operating margins indicate sensitivity to below‑the‑line items (FX, taxes, finance costs). This reduces predictability of distributable earnings and complicates long-term planning, IPO proceeds deployment and investor confidence in sustained net profits.

Competitive and regulatory pressure in East Africa

Elevated competition and periodic regulatory-mandated outages in East Africa can compress pricing and slow ARPU growth. Such structural market pressures may require higher marketing spend, slower margin recovery and prolonged product differentiation efforts to maintain share and monetization.

Airtel Africa Plc Business Overview & Revenue Model

Company Description

Airtel Africa Plc, together with its subsidiaries, provides telecommunications and mobile money services to customers in Nigeria, East Africa, and Francophone Africa. It offers prepaid and postpaid wireless voice, international roaming, and fixed line telephone services; data communication services, including 2G, 3G, and 4G; and mobile money services, such as digital wallet payments systems, microloans, savings, and international money transfers. The company also provides messaging, value added, enterprise, and infrastructure sharing services, as well as support services; and sells handsets. In addition, it is involved in the investment activities. The company was incorporated in 2018 and is based in London, the United Kingdom. Airtel Africa Plc is a subsidiary of Airtel Africa Mauritius Limited.

How the Company Makes Money

Airtel Africa generates revenue primarily through its telecommunications services, which include mobile voice calls, data services, and SMS. The company has a significant mobile money operation, Airtel Money, which contributes to its earnings by providing financial services such as money transfers, bill payments, and microloans. Key revenue streams include subscription fees, usage charges, and transaction fees from Airtel Money. Additionally, Airtel Africa has established strategic partnerships with various content providers and technology firms to enhance its service offerings and drive customer engagement, further supporting its revenue growth.

Airtel Africa Plc Financial Statement Overview

Summary

Operating performance and cash generation are strong (high EBITDA/EBIT margins and sizable free cash flow), but the balance sheet is a meaningful constraint with elevated debt-to-equity (~2.27x) and a history of net income volatility, which raises financial risk despite improving TTM profitability.

Income Statement

TTM (Trailing-Twelve-Months) results show solid top-line momentum (revenue up ~7.9%) and strong operating profitability, with a high EBITDA margin (~49%) and healthy EBIT margin (~33%). Net profitability is positive in TTM (~9% net margin), a meaningful improvement versus the prior annual periods that included losses/weak net results, suggesting better cost control and/or fewer below-the-line headwinds. The key watch-out is earnings volatility across the annual history (losses in 2024 and very low profit in 2025 annual), which reduces confidence in the durability of net income despite strong operating margins.

Balance Sheet

Leverage is the main constraint: TTM debt-to-equity is elevated (~2.27x) and has risen versus earlier years (closer to ~1.1–1.2x in 2021–2022), indicating a heavier reliance on debt financing. Equity has grown versus 2024, but the capital structure remains debt-heavy for a telecom operator, which can limit flexibility if rates rise or currencies/macro conditions weaken. A positive is that TTM return on equity is strong (~19%), but the higher leverage increases risk and helps explain the mid-range score.

Cash Flow

Cash generation is a clear strength: TTM operating cash flow (~2.77B) and free cash flow (~2.05B) are both sizable, and free cash flow growth is strong (~11.3%). That said, free cash flow does not fully cover reported net income (free cash flow to net income ~0.74), implying either working-capital or investment demands are absorbing some earnings power. Operating cash flow relative to debt is moderate (coverage ~0.55), which is supportive but not strong enough to fully offset the balance-sheet leverage.

Breakdown	TTM	Dec 2024	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	6.00B	5.00B	4.96B	5.25B	4.71B	3.91B
Gross Profit	3.29B	3.19B	3.48B	3.58B	3.25B	2.64B
EBITDA	2.96B	2.16B	2.13B	2.58B	2.28B	1.68B
Net Income	537.72M	-165.00M	220.00M	663.00M	631.00M	339.00M
Balance Sheet
Total Assets	13.44B	9.86B	12.02B	11.17B	10.36B	9.99B
Cash, Cash Equivalents and Short-Term Investments	835.00M	966.00M	644.00M	1.33B	1.52B	1.14B
Total Debt	6.38B	4.46B	5.98B	4.22B	3.93B	4.62B
Total Liabilities	10.23B	7.56B	9.25B	7.36B	6.71B	6.64B
Stockholders Equity	2.86B	2.16B	2.49B	3.63B	3.50B	3.40B
Cash Flow
Free Cash Flow	2.05B	1.23B	1.41B	927.00M	1.27B	751.00M
Operating Cash Flow	2.77B	2.26B	2.27B	2.21B	2.01B	1.67B
Investing Cash Flow	-954.00M	-1.23B	-562.00M	-1.03B	-557.00M	-1.16B
Financing Cash Flow	-1.23B	-844.00M	-1.54B	-1.12B	-1.61B	-575.00M

Airtel Africa Plc Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 327.00
• 50DMA: Negative
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:AAF, the sentiment is Neutral. The current price of 327 is below the 20-day moving average (MA) of 355.79, below the 50-day MA of 335.80, and above the 200-day MA of 239.86, indicating a neutral trend. The MACD of -0.23 indicates Positive momentum. The RSI at 37.49 is Neutral, neither overbought nor oversold. The STOCH value of 15.55 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for GB:AAF.

Airtel Africa Plc Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
BT.A	69 Neutral	£18.64B	19.63	7.56%	4.42%	-2.53%	24.52%
HTWS	68 Neutral	£1.80B	28.70	―	―	4.95%	―
CAN	67 Neutral	£3.11B	-26.07	-5.19%	0.65%	0.88%	-133.77%
VOD	63 Neutral	£25.15B	-7.49	-7.57%	3.74%	16.15%	-279.78%
ZEG	63 Neutral	£3.67B	―	-10.35%	―	―	―
Sector *	60 Neutral	$48.67B	4.58	-11.27%	4.14%	2.83%	-41.78%
AAF	53 Neutral	£11.64B	28.91	21.04%	1.50%	14.13%	―

Airtel Africa Plc Corporate Events

Airtel Africa Cancels New Batch of Shares Under $100m Buy-Back Programme

Airtel Africa has continued execution of its share buy-back programme, repurchasing 40,000 ordinary shares on 29 January 2026 at prices between 340.60p and 349.20p per share, with a volume-weighted average price of 344.73p. The shares acquired will be cancelled, reducing the number of ordinary shares in issue to 3,655,081,028 (of which 7,489,044 are held in treasury) and setting total voting rights at 3,647,591,984, a figure shareholders can use to assess disclosure thresholds. The buy-back, carried out under revised arrangements with Barclays Capital Securities and forming part of a $100m programme launched in December 2024, has so far seen the company retire 41,724,720 shares, signalling ongoing capital management efforts that may enhance earnings per share and support shareholder value.

The most recent analyst rating on (GB:AAF) stock is a Hold with a £395.00 price target. To see the full list of analyst forecasts on Airtel Africa Plc stock, see the GB:AAF Stock Forecast page.

Airtel Africa Posts Strong Nine-Month Growth as Data and Mobile Money Surge

Airtel Africa reported strong results for the nine months to 31 December 2025, underscoring robust growth across both its telecoms and mobile money operations. The customer base rose 10% to 179.4 million, with data users up 14.6% to 81.8 million and smartphone penetration reaching 48.1%, helping lift data ARPU by 16.6% as average monthly usage climbed to 8.6GB. Airtel Money crossed 52 million customers and surpassed an annualised total processed value of $210bn in the third quarter, driven by a broader ecosystem and greater digital adoption, while mobile money ARPU increased in constant currency. Group revenue grew 24.6% in constant currency (28.3% reported) to $4.67bn, led by a 36.5% rise in data revenue and 29.4% growth in mobile money, pushing EBITDA up 35.9% to $2.28bn and expanding margins to 48.9%. Profit after tax more than doubled to $586m as higher operating profit and foreign exchange gains replaced prior-year losses, with basic EPS jumping to 13.1 cents. The company accelerated capital expenditure by 32.2% to $603m, adding around 2,500 new sites and extending its fibre network beyond 81,500km to lift population coverage to 81.7%, while leverage improved from 2.4x to 1.9x on stronger EBITDA. Management highlighted continued cost-efficiency gains, rising EBITDA margins and the momentum in Airtel Money ahead of a planned listing in the first half of 2026, reinforcing confidence in the long-term growth and value-creation potential of its African footprint.

The most recent analyst rating on (GB:AAF) stock is a Hold with a £395.00 price target. To see the full list of analyst forecasts on Airtel Africa Plc stock, see the GB:AAF Stock Forecast page.

Airtel Africa Cancels Further Shares Under Ongoing $100m Buy-Back Programme

Airtel Africa has continued its ongoing $100m share buy-back programme, repurchasing 40,000 ordinary shares on 28 January 2026 at prices between 350.60p and 358.80p per share through Barclays Capital Securities, with the shares to be cancelled. Following this latest transaction, the company’s issued share capital stands at 3,655,121,028 ordinary shares, including 7,489,044 treasury shares, giving a total of 3,647,631,984 voting rights, a capital structure update that provides investors with an updated basis for calculating disclosure thresholds and underscores Airtel Africa’s continued effort to return capital to shareholders and manage its equity base.

The most recent analyst rating on (GB:AAF) stock is a Buy with a £404.00 price target. To see the full list of analyst forecasts on Airtel Africa Plc stock, see the GB:AAF Stock Forecast page.

Airtel Africa Cancels Further Shares Under $100m Buy-Back Programme

Airtel Africa has continued executing its share buy-back programme, repurchasing 40,000 ordinary shares on 27 January 2026 at a volume-weighted average price of 360.69 pence per share under its existing mandate with Barclays Capital Securities. The purchased shares will be cancelled, reducing the number of shares in issue to 3,655,161,028 (of which 7,489,044 are held in treasury) and setting total voting rights at 3,647,671,984, a change relevant for shareholders’ disclosure calculations under UK transparency rules; since the start of the first $100m tranche in December 2024, the company has bought back 41,644,720 shares in aggregate, signalling ongoing capital management and potential enhancement of shareholder value through a smaller equity base.

The most recent analyst rating on (GB:AAF) stock is a Buy with a £404.00 price target. To see the full list of analyst forecasts on Airtel Africa Plc stock, see the GB:AAF Stock Forecast page.

Airtel Africa Cancels Further Shares Under Ongoing $100m Buy-Back

Airtel Africa has continued execution of its share buy-back programme, repurchasing 40,000 ordinary shares on 27 January 2026 at prices between 358.20p and 361.80p per share, with a volume-weighted average price of 360.69p. The repurchased shares will be cancelled, reducing the number of ordinary shares in issue to 3,655,161,028 (of which 7,489,044 are held in treasury) and setting total voting rights at 3,647,671,984, a figure shareholders can use to assess disclosure thresholds under UK transparency rules; since the launch of the first $100m buy-back tranche in December 2024, the company has acquired 41,644,720 shares in aggregate, signalling an ongoing capital management effort that can support earnings per share and shareholder returns.

The most recent analyst rating on (GB:AAF) stock is a Buy with a £404.00 price target. To see the full list of analyst forecasts on Airtel Africa Plc stock, see the GB:AAF Stock Forecast page.

Airtel Africa Cancels Additional Shares Under $100m Buyback Programme

Airtel Africa plc has repurchased 40,000 of its own ordinary shares at a volume-weighted average price of 358.44 pence per share as part of its ongoing $100m share buyback programme, with the shares to be cancelled. Following this latest transaction, the company’s issued share capital stands at 3,655,201,028 ordinary shares including 7,489,044 treasury shares, giving 3,647,711,984 voting rights, and since the start of the first tranche of the buyback it has acquired a total of 41,604,720 shares, signalling continued capital management efforts that affect shareholder ownership calculations under UK disclosure and transparency rules.

The most recent analyst rating on (GB:AAF) stock is a Buy with a £403.00 price target. To see the full list of analyst forecasts on Airtel Africa Plc stock, see the GB:AAF Stock Forecast page.

Airtel Africa Cancels Further Shares Under $100m Buy-Back Programme

Airtel Africa has repurchased 40,000 of its own ordinary shares on 23 January 2026 under its ongoing $100m share buy-back programme, at a volume-weighted average price of 362.18 pence per share, with all repurchased shares to be cancelled. Following this latest tranche, the company has reduced its outstanding share count to 3,655,241,028 shares (of which 3,647,751,984 carry voting rights), and has cumulatively bought back 41,564,720 shares since the programme began, a move that tightens the free float and may enhance earnings per share and shareholder value while signalling continued management confidence in the business.

The most recent analyst rating on (GB:AAF) stock is a Buy with a £403.00 price target. To see the full list of analyst forecasts on Airtel Africa Plc stock, see the GB:AAF Stock Forecast page.

Airtel Africa Cancels Additional Shares as Buy-Back Reaches 41.5 Million

Airtel Africa has continued executing its $100m share buy-back programme, purchasing 40,000 ordinary shares on 22 January 2026 at a volume-weighted average price of 363.78p per share through Barclays Capital Securities across multiple European trading venues. The shares will be cancelled, reducing the company’s share count to 3.65 billion (with 3.65 billion voting rights), and bringing total repurchases since the programme began in December 2024 to 41.5 million shares, a capital management move that can enhance earnings per share and signal confidence in the group’s long-term prospects to investors.

The most recent analyst rating on (GB:AAF) stock is a Buy with a £405.00 price target. To see the full list of analyst forecasts on Airtel Africa Plc stock, see the GB:AAF Stock Forecast page.

Airtel Africa Cancels Additional Shares Under Ongoing $100m Buy-back

Airtel Africa has continued executing its share buy-back programme, repurchasing 40,000 ordinary shares on 21 January 2026 at prices between 350.80p and 358.00p per share, at a volume-weighted average price of 354.66p. The shares will be cancelled, reducing the total number of voting rights to 3,647,831,984 and furthering a capital management initiative under which the company has now bought back 41,484,720 shares since the first tranche of the $100 million programme began, a move that tightens the share base and may enhance value for remaining shareholders while signalling confidence in the company’s prospects.

The most recent analyst rating on (GB:AAF) stock is a Buy with a £403.00 price target. To see the full list of analyst forecasts on Airtel Africa Plc stock, see the GB:AAF Stock Forecast page.

Airtel Africa Cancels Additional Shares Under $100m Buy-Back Programme

Airtel Africa has continued to execute its ongoing share buy-back programme, repurchasing 40,000 ordinary shares on 20 January 2026 at a volume-weighted average price of 354.73 pence per share through Barclays Capital Securities. The shares will be cancelled, reducing the number of ordinary shares in issue to 3.66 billion (of which around 7.5 million are held in treasury) and setting the company’s total voting rights at 3.65 billion, a key reference point for investors monitoring disclosure thresholds. Since the first tranche of its $100m buy-back was launched in December 2024, Airtel Africa has now repurchased a total of 41.44 million shares, signalling continued capital management efforts that may support earnings per share and underscore management’s confidence in the business.

The most recent analyst rating on (GB:AAF) stock is a Buy with a £403.00 price target. To see the full list of analyst forecasts on Airtel Africa Plc stock, see the GB:AAF Stock Forecast page.

Airtel Africa Cancels New Tranche of Shares Under Ongoing Buy-Back

Airtel Africa has continued executing its share buy-back programme, repurchasing 40,000 ordinary shares on 19 January 2026 at prices between 356.00p and 362.20p, with a volume-weighted average price of 359.12p. The repurchased shares will be cancelled, reducing the number of ordinary shares in issue to 3,655,401,028 (including 7,489,044 treasury shares) and setting the company’s total voting rights at 3,647,911,984, a key reference point for investors monitoring disclosure thresholds under UK transparency rules; in total, since the first tranche of its $100m buy-back began in December 2024, Airtel Africa has acquired 41,404,720 shares, signalling an ongoing commitment to capital return and balance-sheet optimisation.

The most recent analyst rating on (GB:AAF) stock is a Buy with a £403.00 price target. To see the full list of analyst forecasts on Airtel Africa Plc stock, see the GB:AAF Stock Forecast page.

Airtel Africa Cancels Further Shares Under $100m Buy-Back Programme

Airtel Africa has repurchased 40,000 of its own ordinary shares on 16 January 2026, at prices between 357p and 362p per share and a volume-weighted average price of 359.13p, as part of its ongoing $100m share buy-back programme arranged with Barclays Capital Securities. The shares will be cancelled, reducing the number of ordinary shares in issue to about 3.66 billion (of which 7.49 million are treasury shares) and total voting rights to 3.65 billion, further shrinking the free float after the company has bought a total of 41.36 million shares since the programme began, a move that tightens capital structure and may support earnings per share and shareholder value.

The most recent analyst rating on (GB:AAF) stock is a Hold with a £400.00 price target. To see the full list of analyst forecasts on Airtel Africa Plc stock, see the GB:AAF Stock Forecast page.

Airtel Africa Continues $100m Share Buy-Back With Further Share Cancellation

Airtel Africa has continued executing its share buy-back programme, repurchasing 39,511 ordinary shares on 15 January 2026 at a volume-weighted average price of 356.59p, with the shares to be cancelled. Following this latest transaction, the company’s total shares in issue stand at 3,655,481,028 (including 7,489,044 held in treasury), resulting in 3,647,991,984 voting rights, and it has now bought back 41,324,720 shares under the current $100 million programme, a move that modestly enhances earnings per share and may signal management’s confidence in the business to investors.

The most recent analyst rating on (GB:AAF) stock is a Hold with a £400.00 price target. To see the full list of analyst forecasts on Airtel Africa Plc stock, see the GB:AAF Stock Forecast page.

Airtel Africa Cancels 40,000 Shares in Ongoing $100m Buy-Back

Airtel Africa has repurchased 40,000 of its own ordinary shares as part of its ongoing $100m share buy-back programme, at prices between 356.20p and 361.60p per share and a volume‑weighted average price of 359.03p. The shares, bought via Barclays Capital Securities across multiple European trading venues, will be cancelled, reducing the number of ordinary shares in issue to 3,655,520,539 (including 7,489,044 held in treasury) and setting the company’s voting rights at 3,648,031,495; since the buy‑back started in December 2024, Airtel Africa has acquired a total of 41,285,209 shares, signalling continued capital management efforts that may enhance earnings per share and consolidate shareholder value.

The most recent analyst rating on (GB:AAF) stock is a Hold with a £400.00 price target. To see the full list of analyst forecasts on Airtel Africa Plc stock, see the GB:AAF Stock Forecast page.

Airtel Africa Sets Date to Release Nine-Month 2025 Results

Airtel Africa has announced it will report its financial results for the nine months ended 31 December 2025 on 30 January 2026, and will host a conference call and presentation for analysts and investors on the same day. The scheduled update will provide stakeholders with insight into the group’s recent operational and financial performance across its African markets and may offer indications on how its telecoms and mobile money businesses are progressing in a competitive, fast-growing sector.

The most recent analyst rating on (GB:AAF) stock is a Hold with a £400.00 price target. To see the full list of analyst forecasts on Airtel Africa Plc stock, see the GB:AAF Stock Forecast page.

Airtel Africa Cancels Further Shares Under $100m Buy-Back Programme

Airtel Africa has continued to execute its previously announced share buy-back programme, repurchasing 40,000 ordinary shares on 13 January 2026 at prices between 355.80p and 366.00p per share, with a volume-weighted average price of 359.56p. The purchased shares will be cancelled, leaving 3,655,560,539 ordinary shares in issue (including 7,489,044 treasury shares) and 3,648,071,495 voting rights outstanding, a move that marginally reduces share capital and may enhance earnings per share for remaining investors; since the first tranche of the $100m programme began in December 2024, the company has bought back 41,245,209 shares in aggregate.

The most recent analyst rating on (GB:AAF) stock is a Hold with a £400.00 price target. To see the full list of analyst forecasts on Airtel Africa Plc stock, see the GB:AAF Stock Forecast page.

Airtel Africa Cancels Further Shares Under $100m Buy-back Programme

Airtel Africa has repurchased 40,000 of its own ordinary shares at a volume-weighted average price of 364.53 pence per share as part of its ongoing share buy-back programme, with the shares to be cancelled. Following this latest transaction, the company’s share capital stands at 3,655,600,539 ordinary shares in issue, including 7,489,044 treasury shares, resulting in 3,648,111,495 voting rights, and it has now bought back a total of 41,205,209 shares under the $100 million programme, a move that supports capital management and may enhance earnings per share for investors.

The most recent analyst rating on (GB:AAF) stock is a Hold with a £400.00 price target. To see the full list of analyst forecasts on Airtel Africa Plc stock, see the GB:AAF Stock Forecast page.

Airtel Africa Cancels 40,000 Shares in Ongoing $100m Buy-Back Programme

Airtel Africa has executed another tranche of its ongoing share buy-back programme, repurchasing 40,000 ordinary shares on 9 January 2026 at a volume-weighted average price of 364.71 pence per share through Barclays Capital Securities across multiple trading venues. The repurchased shares will be cancelled, reducing the total shares in issue to 3,655,640,539 and voting rights to 3,648,151,495, a move that marginally enhances existing shareholders’ proportional stakes; since the start of the first $100m buy-back tranche in December 2024, the company has acquired over 41.1 million shares, signalling continued capital return and balance sheet management in support of shareholder value.

The most recent analyst rating on (GB:AAF) stock is a Hold with a £343.00 price target. To see the full list of analyst forecasts on Airtel Africa Plc stock, see the GB:AAF Stock Forecast page.

Airtel Africa Cancels New Batch of Shares Under $100m Buy-Back Programme

Airtel Africa plc has repurchased 40,000 of its own ordinary shares on 8 January 2026 as part of its ongoing $100 million share buy-back programme, at prices ranging between 365.80p and 374.40p and a volume-weighted average price of 370.37p. The shares will be cancelled, reducing the number of ordinary shares in issue to 3,655,680,539 (of which 7,489,044 are held in treasury) and setting total voting rights at 3,648,191,495, a figure shareholders can use for regulatory disclosure thresholds; since the programme’s first tranche began in December 2024, the company has bought back over 41.1 million shares, signalling continued capital management efforts that may support earnings per share and shareholder value.

The most recent analyst rating on (GB:AAF) stock is a Hold with a £343.00 price target. To see the full list of analyst forecasts on Airtel Africa Plc stock, see the GB:AAF Stock Forecast page.

Airtel Africa Cancels Fresh Tranche of Shares in Ongoing Buy-Back

Airtel Africa has executed another tranche of its ongoing share buy-back programme, repurchasing 40,000 ordinary shares on 7 January 2026 at prices between 366.60p and 374.60p per share, with a volume-weighted average of 372.58p. The repurchased shares will be cancelled, leaving 3,655,720,539 ordinary shares in issue, of which 7,489,044 are held in treasury, implying 3,648,231,495 voting rights that investors can use as a reference for regulatory disclosure thresholds; in total, since the programme began in December 2024, the company has bought back 41,085,209 shares, reflecting its continued focus on capital returns and balance-sheet optimisation for shareholders.

The most recent analyst rating on (GB:AAF) stock is a Hold with a £343.00 price target. To see the full list of analyst forecasts on Airtel Africa Plc stock, see the GB:AAF Stock Forecast page.

Airtel Africa Continues $100m Buy-back With New Share Repurchase

Airtel Africa has repurchased 40,000 of its own ordinary shares at a volume-weighted average price of 370.59 pence per share on 6 January 2026 under its ongoing share buy-back programme, with the shares to be cancelled. Following this transaction, the company’s issued share capital stands at 3,655,760,539 ordinary shares, including 7,489,044 held in treasury, giving a total of 3,648,271,495 voting rights, and since the start of the $100 million buy-back in December 2024 it has acquired just over 41 million shares, signalling continued capital management efforts that reduce share count and may enhance value for remaining shareholders.

The most recent analyst rating on (GB:AAF) stock is a Hold with a £343.00 price target. To see the full list of analyst forecasts on Airtel Africa Plc stock, see the GB:AAF Stock Forecast page.

Airtel Africa Cancels Further Shares Under $100m Buy-back Programme

Airtel Africa has repurchased 40,000 of its own ordinary shares on 5 January 2026 under its ongoing share buy-back programme, at prices ranging between 358.00p and 369.20p and a volume-weighted average price of 363.72p, with the shares to be cancelled. Following this latest transaction, the company has 3,655,800,539 ordinary shares in issue, including 7,489,044 treasury shares, resulting in 3,648,311,495 voting rights outstanding, and since the start of the first $100m buy-back tranche in December 2024 it has bought a total of 41,005,209 shares, signalling continued capital management efforts that may support earnings per share and shareholder value.

The most recent analyst rating on (GB:AAF) stock is a Hold with a £343.00 price target. To see the full list of analyst forecasts on Airtel Africa Plc stock, see the GB:AAF Stock Forecast page.

Airtel Africa Cancels New Tranche of Shares Under Ongoing $100m Buy-Back

Airtel Africa has continued executing its share buy-back programme, repurchasing 40,000 ordinary shares on 2 January 2026 at a volume-weighted average price of 361.09p per share through Barclays Capital Securities across multiple trading venues. The purchased shares will be cancelled, reducing the number of ordinary shares in issue to 3,655,840,539 (of which 7,489,044 are held in treasury) and setting total voting rights at 3,648,351,495, a figure shareholders can use for regulatory disclosure calculations; since the first tranche of the $100m buy-back began in December 2024, Airtel Africa has bought back 40,965,209 shares in aggregate, signalling ongoing capital management and potentially enhancing earnings per share for investors.

The most recent analyst rating on (GB:AAF) stock is a Hold with a £343.00 price target. To see the full list of analyst forecasts on Airtel Africa Plc stock, see the GB:AAF Stock Forecast page.

Airtel Africa Updates Share Capital and Voting Rights Amid Ongoing Buyback

Airtel Africa has reported that its issued share capital at 31 December 2025 stood at 3,655,960,539 ordinary shares, of which 7,489,044 are held in treasury and therefore carry no voting rights. As a result, the total number of voting rights available to shareholders is 3,648,391,495, a figure that investors must use when assessing disclosure thresholds for holdings under UK transparency rules. The gap between the issued share capital and voting rights—7,569,044 shares—reflects both the treasury shares and 80,000 shares from unsettled purchases linked to the company’s ongoing share buyback programme, signalling continued capital management activity that may marginally influence ownership percentages and regulatory reporting obligations for investors.

The most recent analyst rating on (GB:AAF) stock is a Hold with a £343.00 price target. To see the full list of analyst forecasts on Airtel Africa Plc stock, see the GB:AAF Stock Forecast page.

Airtel Africa Cancels Further Shares Under $100m Buy-Back Programme

Airtel Africa has executed a further tranche of its ongoing share buy-back programme, repurchasing 40,000 ordinary shares on 31 December 2025 at a volume-weighted average price of 355.95 pence per share, with all purchased shares to be cancelled. Following this transaction, the company’s issued share capital stands at 3,655,880,539 ordinary shares, including 7,489,044 held in treasury, resulting in 3,648,391,495 voting rights, and the group has now bought back a total of 40,925,209 shares since the $100m programme began, underscoring its continued capital return to shareholders and marginally increasing earnings per share for remaining investors.

The most recent analyst rating on (GB:AAF) stock is a Hold with a £343.00 price target. To see the full list of analyst forecasts on Airtel Africa Plc stock, see the GB:AAF Stock Forecast page.

Airtel Africa Cancels Further Shares in Ongoing $100m Buy-Back Programme

Airtel Africa has continued its ongoing share buy-back programme, repurchasing 40,000 ordinary shares on 30 December 2025 at a volume-weighted average price of 355.70 pence per share through Barclays Capital Securities. The shares, acquired across multiple European trading venues, will be cancelled, reducing the number of ordinary shares in issue to 3,655,920,539 and establishing 3,648,431,495 voting rights, while cumulatively 40,885,209 shares have now been bought back since the $100 million programme began, signalling continued capital management efforts that modestly enhance earnings per share and adjust the company’s free float for existing investors.

The most recent analyst rating on (GB:AAF) stock is a Hold with a £343.00 price target. To see the full list of analyst forecasts on Airtel Africa Plc stock, see the GB:AAF Stock Forecast page.

Airtel Africa Cancels 40,000 Shares in Ongoing $100m Buy-Back Programme

Airtel Africa has continued to execute its share buy-back programme, repurchasing 40,000 ordinary shares on 29 December 2025 at prices between 335.80p and 342.00p per share, with a volume-weighted average price of 337.85p. The repurchased shares will be cancelled, reducing the number of shares in issue to 3,655,960,539, of which 7,489,044 are held in treasury, and setting total voting rights at 3,648,471,495 for regulatory disclosure purposes. Since the launch of the first tranche of its $100m buy-back in December 2024, the group has acquired 40,845,209 shares at an average 151.8430p, signalling ongoing capital management efforts that incrementally enhance earnings per share and consolidate shareholder value, while modestly tightening the company’s free float on the London and related trading venues.

The most recent analyst rating on (GB:AAF) stock is a Hold with a £343.00 price target. To see the full list of analyst forecasts on Airtel Africa Plc stock, see the GB:AAF Stock Forecast page.

Airtel Africa Launches Competitive Audit Tender Process

Airtel Africa has initiated a formal independent competitive tender process to appoint a new external auditor, with the process overseen by the Audit and Risk Committee. This move aligns with the mandatory auditor rotation requirements of its controlling shareholder, Bharti Airtel Limited, in India, and is not due to any issues with the current auditors. The new auditor is expected to be appointed at the 2027 Annual General Meeting and will begin auditing for the financial year ending March 2028.

The most recent analyst rating on (GB:AAF) stock is a Buy with a £3.30 price target. To see the full list of analyst forecasts on Airtel Africa Plc stock, see the GB:AAF Stock Forecast page.

Airtel Africa Updates on Voting Rights and Capital Structure

Airtel Africa PLC has announced an update on its total voting rights and capital, as per the Financial Conduct Authority’s Disclosure Guidance and Transparency Rules. As of November 28, 2025, the company’s issued share capital consists of 3,656,000,539 ordinary shares, with a total of 3,648,511,495 voting rights available for shareholders. This update is crucial for shareholders to determine their interest in the company and any changes therein.

The most recent analyst rating on (GB:AAF) stock is a Buy with a £3.30 price target. To see the full list of analyst forecasts on Airtel Africa Plc stock, see the GB:AAF Stock Forecast page.

Airtel Africa Announces Board Changes as Andrew Green Retires

Airtel Africa has announced a change in its board of directors, with Andrew Green set to retire as Senior Independent Non-Executive Director after the January 2026 board meeting. Tsega Gebreyes, who joined as a non-executive director in 2021 and currently chairs the Remuneration Committee, will succeed him. Cynthia Gordon will take over as Chair of the Remuneration Committee. This transition reflects Airtel Africa’s commitment to maintaining strong governance and leadership as it continues to expand its influence in the African telecommunications sector.

The most recent analyst rating on (GB:AAF) stock is a Hold with a £294.00 price target. To see the full list of analyst forecasts on Airtel Africa Plc stock, see the GB:AAF Stock Forecast page.

Airtel Africa Announces Director Share Sale

Airtel Africa has announced a notification regarding the sale of shares by Liisa Annika Poutiainen, an Independent Non-Executive Director, as part of the company’s compliance with Market Abuse Regulation. This transaction involved the sale of 3,000 ordinary shares at a price of £2.7760 each, totaling £8,328. The announcement highlights Airtel Africa’s commitment to transparency and regulatory compliance, which may influence investor confidence and market perception.

The most recent analyst rating on (GB:AAF) stock is a Hold with a £294.00 price target. To see the full list of analyst forecasts on Airtel Africa Plc stock, see the GB:AAF Stock Forecast page.

Airtel Africa Announces Interim Dividend Currency Options

Airtel Africa has announced the currency exchange rates for its interim dividend, set at 2.84 cents per ordinary share, payable on December 12, 2025. Shareholders on the London Stock Exchange can choose to receive dividends in GB pounds or U.S. dollars, while those on the Nigerian Stock Exchange can opt for Nigerian naira or U.S. dollars. The exchange rates for these currencies were determined based on the U.S. dollar rates available on October 31, 2025. This announcement is part of Airtel Africa’s ongoing efforts to provide flexible financial options to its shareholders, reflecting its commitment to enhancing shareholder value.

The most recent analyst rating on (GB:AAF) stock is a Hold with a £294.00 price target. To see the full list of analyst forecasts on Airtel Africa Plc stock, see the GB:AAF Stock Forecast page.

Airtel Africa Announces Voting Rights and Capital Structure

Airtel Africa has announced its total voting rights and capital structure as of October 31, 2025. The company’s issued share capital consists of over 3.6 billion ordinary shares, with a total of 3,648,511,495 voting rights available for shareholder calculations under the FCA’s rules. This announcement provides transparency for shareholders to assess their interests and any changes therein, aligning with regulatory requirements.

The most recent analyst rating on (GB:AAF) stock is a Hold with a £294.00 price target. To see the full list of analyst forecasts on Airtel Africa Plc stock, see the GB:AAF Stock Forecast page.