Tanzanian Investor Rostam Azizi Acquires Nation Media Group from AKFED

Kampala, Uganda — In a landmark transaction, the Aga Khan Fund for Economic Development S.A. (AKFED) has agreed to sell its entire 100 percent stake in Nation Media Group PLC (NMG) to Taarifa Ltd, a company owned by Tanzanian entrepreneur Rostam Azizi.

Nation Media Group, one of East Africa’s leading media conglomerates, operates newspapers, television, radio, and digital platforms across Kenya, Uganda, and Tanzania.

The acquisition by Azizi signals a new chapter for the media house, with expectations of strategic growth and innovation under its new ownership.

AKFED, part of the Aga Khan Development Network (AKDN), has historically invested in enterprises that foster economic growth across the region.

Its divestment from NMG reflects a strategic realignment of its investment portfolio.Speaking on the deal, Rostam Azizi said,

“Nation Media Group is a cornerstone of East African journalism. We are committed to strengthening its operations, expanding digital presence, and delivering value to both audiences and stakeholders.”

Industry analysts predict that the change in ownership could lead to operational restructuring, modernization of media services, and potentially deeper regional integration for NMG.

The transaction is subject to approvals from regulatory authorities across East Africa.

This acquisition adds to Azizi’s growing portfolio in media, infrastructure, and trade, reinforcing his status as one of East Africa’s prominent business figures.