TANZANIAN BUSINESSMAN ROSTAM AZIZI ACQUIRES MAJORITY STAKE IN NATION MEDIA GROUP

Tanzanian businessman and former politician Rostam Azizi has become the new majority shareholder of the Nation Media Group (NMG).

Azizi, through his investment vehicle Taarifa Ltd, has acquired the entire 54.08 percent stake previously held by the Aga Khan Fund for Economic Development (AKFED), concluding a 66-year era of Aga Khan ownership.

The transaction, finalised in Geneva, sees Taarifa Ltd purchase 100 percent shareholding in NPRT Holdings Africa Limited, which in turn controls 92,618,177 ordinary shares in NMG. 

While the financial value of the deal has not been disclosed, industry analysts confirm this is the most significant media ownership transaction in East Africa in decades, redrawing the ownership map of one of the continent’s most influential media houses.

The deal marks the end of AKFED’s long-standing association with NMG, which began in 1959 with the purchase of the Taifa Leo newspaper. Under AKFED’s stewardship, NMG grew into a multi-platform colossus with over 30 brands across four countries, reaching more than 62 million digital users.

In its official announcement, AKFED expressed pride in its legacy, stating, “AKFED is proud of its contribution to building one of Africa’s most respected media institutions.”