Airtel Africa Plc has announced a strategic initiative in partnership with Barclays Capital Securities Limited to execute on-market share purchases totaling up to $110 million.

This initiative will be divided into non-discretionary and discretionary segments, marking a proactive step in optimizing the company’s capital structure and enhancing shareholder value.

In a statement released on the Nigerian Exchange and signed by Simon O’Hara, group company secretary, Airtel Africa described this share buyback program as a key component of its broader strategy to return cash to shareholders.

It noted that the program aims to repurchase up to one percent of the company’s issued share capital as of the date of this announcement.

“This decision by the Board reflects the organization’s strong financial position and its commitment to maintaining flexibility while continuing to invest for growth across its markets.

“The initial phase of the program will see Airtel Africa collaborating with Barclays Capital Securities to facilitate the purchase of its ordinary shares,” the statement noted.

According to Airtel Africa, the agreement features two key components operating concurrently: a non-discretionary segment allowing Barclays to purchase up to $60 million of ordinary shares independently of the company, and a discretionary segment where Airtel Africa can guide Barclays in purchasing an additional $50 million, adhering to the regulations set forth by the Market Abuse Regulation (EU) No 596/2014.

“The program is set to commence today and is expected to conclude by November 27, 2026, unless terminated earlier under the agreement’s terms. Airtel Africa has signaled that as the initiative progresses, further tranches may be announced to achieve its objective of repurchasing up to one percent of its issued share capital.

“The primary aim of this buyback program is to streamline the company’s capital. Accordingly, all shares purchased will be cancelled, contributing to a more efficient capital structure. Any transactions will be performed in alignment with pre-defined parameters outlined in the agreement with Barclays and comply with the authority granted by shareholders for share repurchases.”

At the annual general meeting on July 9, 2025, shareholders authorized the company to buy back a maximum of 366.073 million ordinary shares.

Following the previous buyback program, the remaining authority now stands at a maximum of 357.042 million ordinary shares, demonstrating ongoing support from shareholders for these initiatives.

Nigerian Communications Commission (NCC), Nigeria’s telecom regulator has released draft rules for mobile virtual network operators (MVNOs) as authorities seek to organize a market that is still at an early stage.

The NCC published the proposed “Business Rules for Mobile Virtual Network Operations in Nigeria” and opened a consultation process for industry stakeholders.

Comments can be submitted until June 29, while a public consultation is scheduled for July 9.

According to the NCC, the proposed rules define the obligations and responsibilities of both MVNOs and host network operators (HNOs).

The framework also sets conditions for licensing, compliance, interconnection, numbering resources, SIM and eSIM management, and network hosting agreements.

Regulators also seek to guarantee fair access to telecom infrastructure and reduce delays tied to the integration of MVNOs into existing mobile networks.

The text further includes provisions related to service quality, customer protection, network reliability, and data security.

Violations could lead to administrative sanctions or corrective measures under existing telecom laws.

Nigeria officially opened the MVNO market in 2023. That year, the NCC awarded licenses to 25 operators for a combined 5.9 billion naira, or about $4.3 million. Since then, around 40 licenses have been issued, with operators such as Vitel and Visafone already launching services.

Authorities see MVNOs as a way to improve competition in the telecom sector while helping extend services to underserved and unserved populations.

As of March 2026, Nigeria counted 185.7 million mobile subscribers and 153.8 million internet subscribers, according to NCC data.

Despite the size of the market, digital access remains uneven across the country.

Government estimates show that nearly 20 million Nigerians still remain outside the digital ecosystem.

The GSMA estimated that about 120 million Nigerians did not use mobile internet in 2023.

High service costs and inconsistent service quality also remain major concerns in the telecom sector.

An Australian federal court has upheld a fine against social media platform X over failures to comply with child internet safety regulations, bringing to an end a three-year legal dispute between the company and Australian authorities.

The case stemmed from a demand issued in February 2023 by Australia’s online safety regulator, the eSafety Commission, requesting detailed information on how the platform, then known as Twitter, was combating the spread of child sexual abuse material online.

Following the platform’s transition to X under billionaire entrepreneur Elon Musk, regulators accused the company of submitting incomplete responses to repeated requests for information.

A federal court had earlier ruled in October 2024 that X was legally obligated to comply fully with the notice issued by the regulator.

On Thursday, the court ordered the company to pay a fine of 650,000 Australian dollars (approximately 464,900 U.S. dollars).

Federal Justice Michael Wheelahan said the penalty was necessary to ensure compliance by large technology firms.

“A penalty near the maximum is appropriate in the case of the respondent, which is a substantial corporation, so that it operates as a real deterrent and is not simply a cost of doing business,” he said.

Australia has emerged as one of the leading countries advocating stricter regulation of major technology platforms.

The country recently introduced world-first legislation aimed at banning children under the age of 16 from accessing certain social media platforms.

Countries including France, United Kingdom and Canada are reportedly considering similar measures following consultations with Australian authorities.

Reacting to the judgment, eSafety Commissioner Julie Inman Grant said transparency remained essential in holding technology companies accountable.

“Meaningful transparency is critical to holding technology companies to account,” she said.

“This is not only a key part of our work as Australia’s online safety regulator, it also provides the Australian public with important information about how these companies are tackling the worst-of-the-worst content on their platforms,” she added.