Rostam Azizi’s Taarifa Ltd acquires controlling stake in Nation Media Group

Nairobi. Tanzanian billionaire and entrepreneur, Rostam Azizi, is set to become the majority shareholder of Nation Media Group PLC (NMG) through his company, Taarifa Ltd.

The Aga Khan Fund for Economic Development (AKFED) announced on March 10, 2026 that it has entered into a formal agreement to sell its 100 percent shareholding in NPRT Holdings Africa Limited to Taarifa Ltd.

This transaction involves 92,618,177 ordinary shares, representing a 54.08 percent stake in the largest independent media house in East and Central Africa.

Mr Azizi, an experienced economist and businessman with interests spanning telecommunications, mining, and energy, is no stranger to the media landscape.

He previously co-founded Tanzania-based Mwananchi Communications Limited between 2000 and 2006, establishing titles such as The Citizen and Mwanaspoti before they were eventually acquired by NMG.

He currently maintains significant media interests through the Habari Corporation in Tanzania.

Upon assuming control, Mr Azizi has pledged to uphold the editorial independence of NMG while investing heavily in its ongoing digital transformation.

The sale marks the conclusion of a historic 66-year association between AKFED and the media group.

Founded in 1959 by His Highness Prince Karim Aga Khan IV, the organisation began with the purchase of the Kiswahili weekly Taifa Leo to provide an independent voice for the African majority during the colonial era.

Since the launch of the Daily Nation in 1960, the group has grown into a multi-platform conglomerate with over 30 brands reaching 62 million digital users across four countries.

Despite the change in majority ownership, Taarifa Ltd has confirmed it does not currently intend to make a mandatory or voluntary offer for the remaining shares or delist the company.

NMG shares will continue to trade on the Nairobi Securities Exchange and its various cross-listed boards in Dar es Salaam, Kampala, and Kigali.

The existing NMG Board will continue to provide oversight and guidance to ensure operational stability and continuity during this transition.

AKFED’s exit from NMG does not signal an end to the Aga Khan Development Network's involvement in the regional media sector.

The network will maintain its Master’s degree programmes and professional training through the Aga Khan University’s Graduate School of Media and Communications (GSMC).

Since 2015, GSMC has educated over 7,000 practitioners in areas such as digital strategy and newsroom leadership.

AKFED also remains a major investor in the East African economy through its holdings in Diamond Trust Bank, Jubilee Insurance, and the Serena Hotels group.

The completion of this landmark transaction is subject to various regulatory approvals and conditions.

Both parties anticipate that the legal process will be finalised within three to four months.

Once concluded, the transition will represent one of the most significant shifts in the ownership of African media since NMG first listed on the Nairobi Stock Exchange in 1973.