Kampala — The Aga Khan Fund for Economic Development (AKFED) has confirmed the sale of its 100 percent stake in Nation Media Group (NMG) to Taarifa Ltd, a company owned by Tanzanian businessman Rostam Azizi.
The transaction marks a notable development in East Africa’s media industry, shifting ownership of one of the region’s most influential media houses to a private investor from Tanzania.
Nation Media Group operates across several countries in the region, including Kenya, Uganda and Tanzania, where it runs newspapers, broadcast stations and digital media platforms that reach millions of audiences.
Although the financial details of the transaction have not been disclosed, analysts say the acquisition aligns with Azizi’s broader investment interests in media and infrastructure across East Africa.
AKFED, part of the Aga Khan Development Network (AKDN), is a development finance institution known for investing in sectors that promote economic growth and regional development. The divestment is seen as part of the fund’s strategy to streamline its investments and focus on other priority sectors.
Commenting on the acquisition, Azizi expressed optimism about the future of the media group.
“We see great potential in Nation Media Group to expand its reach and strengthen journalism in East Africa. Our focus will be on growth, innovation, and enhancing value for both readers and stakeholders,” he said.
Industry observers believe the change in ownership could bring new leadership perspectives, accelerate digital transformation and strengthen cross-border media collaboration in the region.
The transaction is expected to be completed after receiving regulatory approvals from authorities in the relevant East African countries.
