The Aga Khan Fund for Economic Development (AKFED) will sell its entire stake in NPRT Holdings Africa Limited, the majority shareholder of Nation Media Group (NMG), ending a 66-year partnership with one of East Africa’s leading media organizations.
On March 10, 2026, AKFED announced it had agreed to transfer its 100% ownership of NPRT Holdings to Taarifa Ltd, owned by Tanzanian businessman Rostam Azizi. NPRT currently holds a 54.08% share of NMG, equating to 92,618,177 ordinary shares.
Pending regulatory approvals, this transaction is expected to finalize within three to four months.
AKFED emphasized that this deal marks the conclusion of a partnership that began in 1959 with the founding of East African Newspapers (Nation Series) Ltd and the acquisition of the Kiswahili newspaper Taifa Leo.
What started as a modest publication advocating for an independent African voice has evolved into one of the region’s largest media entities. Today, NMG operates over 30 media brands across four countries, reaching more than 62 million digital users and employing over 1,000 professionals.
The Daily Nation’s first issue debuted on March 20, 1960, establishing itself as a primary news source by Kenya’s independence in 1963.
NMG expanded into broadcasting and regional markets, achieving significant milestones including its 1973 listing on the Nairobi Securities Exchange, the 1999 launch of NTV Kenya and Easy FM, and the acquisition of Daily Monitor as well as Mwananchi Communications Limited in Tanzania.
In 2006, NMG became one of the first African media houses to establish a robust online presence, positioning itself for the digital era.
AKFED Director Sultan Allana expressed pride in contributing to one of Africa’s most respected media institutions. “We are confident NMG will continue to uphold the values of independent journalism and public service that have defined it for over six decades,” he stated.
New majority shareholder Rostam Azizi affirmed Taarifa Ltd’s commitment to NMG’s growth, particularly in digital transformation. “We are honored to become NMG’s majority shareholder. We will uphold its editorial independence while investing in its continued success as East Africa’s leading independent media organization,” Azizi remarked.
Azizi previously co-founded Mwananchi Communications Limited, helping establish significant newspapers before their acquisition by NMG.
Despite the ownership change, AKFED will continue to support media development through the Aga Khan University Graduate School of Media and Communications, which trains journalists across East Africa.
The new ownership also confirmed that it has no plans to delist NMG from the Nairobi Securities Exchange; the company will continue trading publicly under the existing board’s oversight.
