Aga Khan Fund for Economic Development has agreed to sell its controlling interest in Nation Media Group to Taarifa Ltd, a company owned by Tanzanian businessman Rostam Azizi, marking a significant ownership shift in East Africa’s media sector. The transaction will conclude a 66-year relationship between the development institution and the Nairobi-based media house that began in 1959.
The agreement involves the sale of 100 percent of the shareholding in NPRT Holdings Africa Limited, an investment vehicle that currently holds a 54.08 percent stake in Nation Media Group. Through this structure, Taarifa Ltd will gain effective control of the region’s largest independent media organisation once the deal receives regulatory approval and is completed.
According to details released by the parties involved, the transaction is expected to close within three to four months, subject to approvals from relevant regulatory authorities and completion of standard transaction conditions. The sale represents a major transition in ownership for a company that has played a central role in the development of East Africa’s media industry for decades.
Nation Media Group operates a wide portfolio of media platforms across multiple countries in the region. Its operations span print publications, television broadcasting, radio stations and digital news platforms serving audiences in Kenya, Uganda, Tanzania and Rwanda. Over the years, the company has built a reputation as a leading source of public-interest journalism and regional news coverage.
The entry of Taarifa Ltd introduces a new strategic investor with diverse commercial interests across East Africa. Rostam Azizi has established a broad investment portfolio spanning several sectors including media, mining, telecommunications, agriculture, energy, real estate, port infrastructure and construction. His involvement in the acquisition signals a growing trend of regional investors expanding their footprint in the media industry as digital transformation reshapes traditional news business models.
The planned acquisition also comes at a time when media organisations globally are accelerating investments in digital platforms to adapt to shifting audience consumption habits. News consumption has increasingly migrated from traditional print and broadcast channels toward online platforms and mobile devices, forcing media companies to restructure operations and invest in digital content distribution systems.
Industry observers note that new investment could support Nation Media Group’s ongoing transition toward digital media products, data-driven advertising solutions and subscription-based revenue models. Expanding digital capabilities has become critical for media companies seeking to maintain relevance and financial sustainability in an increasingly competitive information ecosystem.
For the Aga Khan Fund for Economic Development, the transaction represents the end of one of its longest-standing investments in the region’s media sector. The institution has historically supported development initiatives through strategic investments in sectors considered essential for economic and social progress, including media, infrastructure and financial services.
Nation Media Group’s evolution since its founding reflects broader changes in the East African media landscape, where technological shifts and changing consumer behaviour have forced traditional publishers to diversify revenue streams and modernise operations. The entry of a new controlling shareholder is therefore likely to shape the next phase of the company’s strategic direction.
Once completed, the acquisition will represent one of the most significant ownership changes in the East African media industry in recent decades, positioning the company for a new chapter focused on digital expansion and regional market growth.
