East Africa’s biggest media company changes hands, with digital growth on the horizon.
In a landmark move, the Aga Khan Fund for Economic Development (AKFED) has agreed to sell its entire stake in Nation Media Group (NMG) to Taarifa Ltd, owned by Tanzanian businessman Rostam Azizi. This sale ends AKFED’s 66-year involvement with the East African media giant.
The deal involves AKFED’s 100% ownership of NPRT Holdings Africa Limited, which controls 54.08% of NMG. Once completed, expected in three to four months pending regulatory approvals, Taarifa Ltd will hold majority control of NMG.
A Tanzanian billionaire, Azizi has major investments across media, telecoms, mining, real estate, and energy. He has promised to strengthen NMG’s digital platforms while maintaining its journalistic independence.
NMG will continue publishing newspapers, running TV and radio stations, and trading shares on stock exchanges in Kenya, Uganda, Tanzania, and Rwanda.
AKFED helped build NMG into East Africa’s most influential media group since 1959, fostering independent journalism and shaping the region’s news landscape. This sale signals a new era under private East African ownership, with an eye on digital expansion and modernization.
