The Aga Khan Fund for Economic Development (AKFED) has announced the sale of its entire stake in NPRT Holdings Africa Limited, the investment vehicle that holds a controlling interest in Nation Media Group (NMG). The transaction marks the end of AKFED’s 66-year association with one of East Africa’s most influential media organizations.
Under the agreement, NPRT Holdings Africa Limited owner of 54.08 percent of Nation Media Group will be acquired by Taarifa Ltd, a company owned by East African businessman Rostam Azizi. Once the transaction is completed, Taarifa Ltd will assume the role of majority shareholder in the Nairobi-based media conglomerate.
AKFED’s relationship with Nation Media Group dates back to 1959, when it first invested in the organization to support the development of independent journalism in East Africa. Over the decades, the investment helped transform NMG into one of the region’s largest media houses, operating newspapers, television stations, and digital platforms across multiple countries.
The sale represents a significant shift in the ownership structure of the media group while signaling a new chapter under Azizi’s leadership. The businessman brings prior experience in the regional media sector, notably through his interests in Habari Corporation, a prominent Tanzanian media company.
Despite divesting from Nation Media Group, AKFED reaffirmed its ongoing commitment to strengthening journalism and media capacity across East Africa. The organization said it will continue to support media development through the Aga Khan University Graduate School of Media and Communications (GSMC). Since its launch in 2015, the institution has trained thousands of journalists and media professionals across the region.
Commenting on the transition, AKFED Director Sultan Allana expressed confidence in the future of Nation Media Group.
“We are confident NMG will continue to uphold the values of independent journalism and service to the public that have defined it for over six decades,” he said.
The deal highlights the evolving ownership dynamics within Africa’s media industry, where new investors are increasingly stepping into established institutions. Observers say the transition could influence the strategic direction of Nation Media Group as it adapts to rapid changes in digital media, audience behavior, and regional media competition.
The transaction is expected to be closely watched across the region, given Nation Media Group’s influential role in shaping public discourse and providing news coverage across East Africa.
