Aga Khan Exits Nation Media Group After 66 Years; Tanzanian Tycoon Rostam Azizi Takes Control

The Aga Khan Fund for Economic Development (AKFED) officially announced on Tuesday, March 10, 2026, that it is exiting its majority shareholding in the Nation Media Group (NMG). The fund is selling NPRT Holdings Africa Limited—the investment vehicle that holds 92.6 million shares (54.08%) of NMG—to Taarifa Ltd, an affiliate of the Taifa Group owned by Rostam Azizi. The deal, signed at the Serena Hotel in Nairobi, concludes a relationship that began in 1959 when His Highness the Aga Khan IV established the media house to provide an independent voice for the African majority during the colonial era. Over six decades, NMG grew into a regional powerhouse with over 30 brands, including the Daily Nation, The EastAfrican, and NTV Kenya, reaching a digital audience of over 62 million. Transaction Highlights: Ownership: Taarifa Ltd will become the majority shareholder with a 54.08% stake. Listing Status: The buyer has confirmed it has no plans to delist NMG from the Nairobi, Dar es Salaam, Uganda, or Rwanda stock exchanges. Management: No immediate changes to the board or management are expected; CEO Geoffrey Odundo stated that operations would continue uninterrupted. Editorial Independence: Rostam Azizi pledged to uphold the group’s long-standing tradition of editorial independence while accelerating its digital transformation. Regulatory Timeline: The transaction is subject to approval from the Capital Markets Authority (CMA) and the Communications Authority of Kenya, with completion expected within three to four months. While AKFED is exiting direct ownership, it will continue to support the regional media ecosystem through the Aga Khan University Graduate School of Media and Communications (GSMC). Why This Matters * Regional Consolidation: Rostam Azizi, who previously co-founded Mwananchi Communications (later sold to NMG), now controls the most influential media group in East Africa. Digital Pivot: The move signals a renewed focus on "monetizing" NMG’s massive digital reach as print revenues continue to face global headwinds. Cross-Border Investment: This deal cements the trend of Tanzanian capital flowing into Kenya’s strategic sectors, following Azizi’s recent Sh16 billion Taifa Gas investment in Mombasa. Opportunity Sector Digital Media Strategy, Content Monetization, Regional Advertising, Trade Diplomacy, Equity Research. Follow @MotoSeenAfrica for more updates on business, trade, investments, opportunities and economic growth across Africa. Moto Seen Africa — Africa’s View, Seen Clearly. #NationMediaGroup #AgaKhan #RostamAzizi #TaarifaLtd #MediaTakeover #NSEKenya #EastAfricaBusiness #MotoSeenAfrica