The Aga Khan Fund for Economic Development (AKFED) has entered into an agreement to sell its 100% shareholding in NPRT Holdings Africa Limited (NPRT) to Taarifa Ltd. NPRT holds a 54.08% controlling stake in Nation Media Group PLC (NMG), equivalent to 92,618,177 ordinary shares.
Announced on March 10, 2026, this transaction concludes AKFED’s 66-year partnership with NMG, which began in 1959 with the acquisition of the Kiswahili weekly Taifa Leo.
The deal transfers effective control of East Africa’s largest independent multi-platform media conglomerate to Taarifa Ltd, a company owned by Tanzanian businessman Rostam Azizi.
The transaction remains subject to regulatory approvals across the jurisdictions in which NMG operates, with completion expected within three to four months.
Historical Context of the Partnership
AKFED’s involvement with NMG dates to 1959, when it acquired Taifa Leo and subsequently launched the Daily Nation in 1960.
Over the ensuing decades, the partnership transformed NMG from a modest newspaper publisher into a leading regional media group. Key milestones include:
- Listing on the Nairobi Securities Exchange in 1973.
- Expansion into television (NTV), radio, and digital platforms.
- Growth across Kenya, Uganda, Tanzania, and Rwanda, encompassing more than 30 brands.
- Reaching over 62 million digital users and employing more than 1,000 professionals.
Under AKFED’s stewardship, NMG established itself as a cornerstone of independent journalism, public service, and media professionalism in East Africa.
The organisation has consistently prioritised editorial independence, quality reporting, and contributions to democratic discourse.
AKFED is proud of its contribution to building one of Africa’s most respected media institutions. We are confident NMG will continue to uphold the values of independent journalism and service to the public that have defined it for over six decades
Sultan Allana, Director of AKFED
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Details of the Transaction and New Ownership
The agreement involves the sale of 100% of NPRT Holdings Africa Limited to Taarifa Ltd. By acquiring NPRT, Taarifa gains indirect control of NMG’s 54.08% stake, making Rostam Azizi the majority shareholder.
The remaining shares continue to trade on the Nairobi Securities Exchange, Uganda Securities Exchange, Dar es Salaam Stock Exchange, and Rwanda Stock Exchange, with no plans for delisting or compulsory buyout of minority shareholders.
Rostam Azizi, an East African entrepreneur with experience in media, mining, telecommunications, agriculture, real estate, energy, and construction, co-founded Mwananchi Communications Limited in Tanzania.
We are honoured and deeply committed to becoming the majority shareholder of Nation Media Group. 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
Rostam Azizi
The Aga Khan Development Network will continue supporting journalistic excellence through the Aga Khan University’s Graduate School of Media and Communications.
Implications for Nation Media Group and the Region
The ownership transition concludes a long chapter of AKFED stewardship while introducing new leadership focused on digital transformation and regional growth.
NMG’s multi-platform presence spanning print, broadcast, and digital positions it to navigate evolving media consumption patterns and competitive pressures.
The change in control is expected to:
- Support continued investment in digital infrastructure and content innovation.
- Maintain editorial independence as a core value.
- Strengthen NMG’s role in promoting informed public discourse across East Africa.
The transaction reflects broader trends in media ownership shifts within the region, where strategic investors seek to build on established brands amid digital disruption.
Looking Ahead
The agreement between AKFED and Taarifa Ltd to transfer control of Nation Media Group marks the end of a 66-year partnership that shaped one of East Africa’s most influential media institutions.
AKFED’s exit, through the sale of its 100% stake in NPRT Holdings, transitions majority ownership to Tanzanian businessman Rostam Azizi via Taarifa Ltd.
As of March 11, 2026, the transaction pending regulatory approvals preserves NMG’s commitment to independent journalism while opening a new phase under fresh leadership.
For the most current status and further details, refer to official announcements from Nation Media Group, AKFED, or relevant regulatory authorities.
Ronnie Paul is a seasoned writer and analyst with a prolific portfolio of over 1,000 published articles, specialising in fintech, cryptocurrency, climate change, and digital finance at Africa Digest News.
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