After more than six decades under the stewardship of the Aga Khan Fund for Economic Development, Nation Media Group is entering a new era. The controlling stake in East Africa’s largest independent media house is being sold to Taarifa Ltd, owned by Tanzanian billionaire Rostam Azizi. The deal, covering just over fifty-four percent of NMG, is expected to close in the coming months, pending regulatory approvals. For Azizi, the acquisition represents more than a financial investment; it is a calculated move to expand his influence across the region, accelerate digital growth, and strengthen his footprint in East Africa’s most influential media network.
Rostam Azizi is no stranger to high-stakes leadership. Born in 1960 in Tabora, Tanzania, he studied economics at the University of Exeter in the United Kingdom before returning home to build a diversified business empire. Over the decades, Azizi has expanded his interests across telecommunications, energy, mining, aviation, real estate, and media, establishing himself as one of East Africa’s wealthiest and most influential entrepreneurs. He also has a political background, having served as a Member of Parliament and senior figure in Tanzania’s ruling party before stepping away from politics in 2011 to focus on his business ventures.
Media has long been a key part of Azizi’s portfolio. In 1999, he co-founded Mwananchi Communications, which created some of Tanzania’s leading publications, including Mwananchi, The Citizen, and Mwanaspoti. These ventures were eventually integrated into NMG’s regional operations, giving Azizi experience and credibility in managing media enterprises at scale. His approach combines business acumen with a clear understanding of the role media plays in shaping public discourse, positioning him uniquely for the stewardship of NMG.
The rationale behind the acquisition is clear. Nation Media Group is East Africa’s most influential independent media network, with operations in Kenya, Uganda, Tanzania, and Rwanda. It publishes newspapers such as Daily Nation, Sunday Nation, The EastAfrican, Daily Monitor, and Mwananchi, and operates broadcast outlets including NTV Kenya and Nation FM. Its digital platforms reach more than sixty million users, offering a massive audience that can be leveraged for growth in the rapidly evolving digital media space. For Azizi, who has built businesses in telecoms and technology infrastructure, accelerating NMG’s digital transformation is both a commercial opportunity and a natural extension of his regional strategy.
At the same time, the acquisition provides cross-sector strategic advantages. Azizi’s holdings span energy distribution, logistics, and telecommunications, all sectors that intersect with policy and public discourse. Controlling a media network of NMG’s scale offers insight into regional trends and regulatory developments, while providing a platform to influence conversations that affect East Africa’s broader economy.
Azizi has publicly pledged to maintain NMG’s editorial independence, and Taarifa Ltd. has confirmed that it has no current plans to make a mandatory offer for remaining shares or to delist the company from stock exchanges. While the ownership shift naturally invites scrutiny, analysts suggest that Azizi’s experience balancing business and political engagement positions him to manage this transition responsibly.
For the Aga Khan Fund, the sale marks a pragmatic exit after more than six decades of building one of Africa’s most respected media institutions. Media companies globally face declining print revenues and the urgent need to invest in digital infrastructure. By transferring ownership to a commercially savvy regional investor, AKFED is enabling NMG to accelerate its next growth phase while continuing its legacy of credible journalism.
Under Azizi’s leadership, NMG is expected to deepen its digital reach, integrate operations across borders, and continue shaping public discourse across East Africa. Beyond financial returns, this deal represents a consolidation of influence, expertise, and vision, positioning Rostam Azizi as one of the region’s most powerful media owners.