The Aga Khan Fund for Economic Development (AKFED) has announced it will sell its controlling stake in Nation Media Group (NMG), bringing to a close a partnership that has lasted more than 60 years.
On Tuesday, March 10, AKFED confirmed it has agreed to sell its entire 100% shareholding in NPRT Holdings Africa Limited to Taarifa Ltd. NPRT currently holds a 54.08% stake in Nation Media Group, equivalent to 92,618,177 ordinary shares.
The deal, pending regulatory approval, will transfer majority ownership of the media house to the new investor.
AKFED Sells Controlling Stake in Nation Media Group, Ending 60-Year Partnership. Photo: Courtesy.
AKFED Director Sultan Allana expressed pride in the institution’s role in nurturing and building Nation Media Group over the decades.
The buyer, Taarifa Ltd, is owned by East African entrepreneur Rostam Azizi, who has a wide-ranging portfolio across media, telecommunications, mining, agriculture, and construction.
Azizi previously co-founded Mwananchi Communications Limited, which launched key Tanzanian publications including Mwananchi, The Citizen, and Mwanaspoti, later acquired by Nation Media Group.
Azizi emphasized that the media house will retain its editorial independence under the new ownership while receiving support to expand operations and accelerate its digital transformation.
The sale marks the end of AKFED’s long-standing association with Nation Media Group, which began in 1959 when the late Prince Karim Aga Khan IV established East African Newspapers (Nation Series) Ltd and acquired the Kiswahili weekly Taifa Leo.
Over the years, the organisation expanded into a regional media powerhouse, operating across Kenya, Tanzania, Uganda, and Rwanda.
Today, Nation Media Group manages more than 30 media brands including newspapers, broadcast stations, and digital platforms reaching over 62 million users across East and Central Africa.
The company has been listed on the Nairobi Securities Exchange since 1973.
