DAR ES SALAAM, Tanzania – The Tanzanian businessman and former politician Rostam Azizi has secured a majority stake in Nation Media Group, after purchasing all of the Aga Khan Fund for Economic Development’s (AKFED) 54.08 percent holding in the media firm, in what has become one of East Africa’s biggest media buyouts in recent decades.
The deal was made public on 10 March 2026. Through his investment vehicle, Taarifa Ltd, Azizi will buy all of AKFED’s stake in NPRT Holdings Africa Limited, a firm that controls a majority stake in Nation Media Group. The total share being purchased comprises 92,618,177 ordinary shares, which is equivalent to 54.08 percent of Nairobi’s media business that holds some of East Africa’s leading media outlets.
The Nation Media Group owns and runs some of East Africa’s most widely-read newspapers and most watched television stations and digital media. Some of the outlets are located in Kenya, Uganda and Tanzania, with all of the media firms being viewed as the biggest independent media house in the region.
This move is a culmination of a 66-year period of ownership by AKFED, whose relationship with Nation Media Group began in 1959 when its founder, the late Aga Khan IV, initiated East African Newspapers which would evolve into the modern Nation Media Group.
Neither the value of the deal nor any of its other components were released in the public announcement but according to analysis, the acquisition will turn out to be the biggest shift in media ownership witnessed in East Africa over many years. “This is a testament to the importance and influence of the media house in the region and the role it plays in informing and engaging the public. I commit to support Nation Media Group in its continued growth while ensuring its editorial independence,” read a statement by Azizi, as reported in the press.
Born in Tanzania’s Tabora region, Rostam Azizi formerly served as a Member of Parliament for Igunga and now boasts of a wide-ranging business empire across Africa and the Middle East that include telecoms, energy, mining, and infrastructure.
This transaction is pending regulatory approvals before the final change in ownership. The media firm will continue to trade on the Nairobi Securities Exchange, and keep its cross-listing on other regional exchanges.
