Nigeria, May 22 -- Wireless operator Airtel Africa kicked off a share repurchase programme on Friday, aiming to buy back up to 1 per cent of its issued share capital as part of plans to return cash to shareholders.

The move is a major component of the telco's capital allocation policy, the company, which operates in 14 markets across Africa, stated in a statement on Friday.

"As the initial tranche of the Programme, the Company has entered into an agreement with Barclays Capital Securities Limited ("Barclays") to conduct the programme and carry out on-market purchases of its ordinary shares with the Company subsequently purchasing its ordinary shares from Barclays," Airtel Africa said.

"Barclays will act as riskless principal pursuant t...