Tanzanian Businessman Takes Control of East Africa's Media Giant Nation Media Group
Nairobi, 10 March 2026
Rostam Azizi has acquired majority control of Nation Media Group, purchasing the entire 54.08% stake previously held by the Aga Khan Fund for Economic Development, ending a remarkable 66-year ownership period that began in 1959. This transaction represents one of East Africa’s largest media deals in decades, transforming ownership of a media empire that reaches over 62 million digital users across the region through more than 30 brands including major newspapers and broadcasting stations.
Strategic Acquisition Through Investment Vehicle
The acquisition was executed through Taarifa Ltd, a company owned by Azizi, which purchased 100 per cent of NPRT Holdings Africa Limited [2]. NPRT served as the investment vehicle that held AKFED’s controlling stake in NMG, comprising 92,618,177 ordinary shares [2]. While the financial particulars of the deal have not been disclosed, the transaction solidifies Azizi’s position as the majority shareholder of the media conglomerate [2]. The sale formally concluded AKFED’s 66-year association with NMG, a relationship that began in 1959 when Prince Karim Aga Khan IV established East African Newspapers (Nation Series) Ltd and acquired the Swahili weekly Taifa Leo [2].
Media Empire’s Regional Reach and Digital Presence
Nation Media Group has evolved into a powerful multi-platform media conglomerate operating more than 30 brands across East Africa [2]. The media giant reaches more than 62 million digital users according to the latest statistics [2]. The group’s portfolio encompasses major publications including Business Daily, The Daily Nation, The Daily Monitor, Taifa Leo and The East African, alongside broadcasting operations such as NTV, NTV Uganda, Q FM, K FM and Easy FM [5]. The broadcasting segment delivers informative news, music, movies, comedies and talk shows across the region [5]. Additionally, through Mwananchi Communications Limited in Tanzania, the group publishes Kiswahili papers Mwananchi daily, the weekly sports newspaper Mwana Spoti, and the English daily The Citizen [5].
Azizi’s Media Background and Future Vision
The acquisition represents a return to media for Azizi, who previously co-founded a communications company that launched influential Tanzanian publications later acquired by NMG [2]. Despite the ownership transition, Azizi has committed to maintaining editorial independence while investing in digital transformation and expanding NMG’s regional reach [2]. “We are honoured and deeply committed to becoming the majority shareholder of Nation Media Group,” Azizi stated, emphasising that “NMG is an institution of profound importance to East Africa, and we will uphold its editorial independence while investing in its continued success as the region’s leading independent media organisation” [2].
Regulatory Approval Timeline and Market Position
The transaction remains subject to regulatory approvals, which are expected to be completed within three to four months [2]. The formal announcement was made today, 10 March 2026, through the Aga Khan Fund for Economic Development, which confirmed it had entered into an agreement to sell its 100 per cent shareholding in Nation Media Group PLC to Taarifa Ltd [4]. NMG maintains its position as the leading digital media presence in East Africa, boasting 5 million Facebook followers, 2.6 million Twitter followers and 100,000 Instagram followers [5]. The group was notably the first company in East Africa to embrace Facebook’s Instant Articles platform for publishing and disseminating news stories [5].