Written By | Peter Luzinda
Tanzanian businessman Rostam Azizi
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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 prominent Tanzanian businessman Rostam Azizi.
The deal marks a significant shift in the East African media landscape, transferring ownership of one of the region’s leading media houses to a private Tanzanian investor. Nation Media Group operates across Kenya, Uganda, and Tanzania, and is known for its influential newspapers, digital platforms, and broadcast channels.
While the financial details of the transaction have not been disclosed, the acquisition aligns with Rostam Azizi’s expanding investment interests in media and infrastructure across East Africa. Analysts say the change in ownership could lead to strategic expansion and digital innovation within NMG’s existing portfolio.
AKFED, a development finance institution that is part of the Aga Khan Development Network (AKDN), has historically focused on investments that stimulate economic growth and regional development. Its decision to divest from Nation Media Group is seen as part of a broader strategy to streamline its media investments and focus on other sectors.
Azizi, known for his diverse business portfolio spanning media, logistics, and manufacturing, expressed optimism about the acquisition.
“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,” Azizi said.
Industry observers say the transition could introduce fresh leadership perspectives, modernize operations, and potentially increase cross-border collaborations within the region. The sale is expected to be finalized after receiving regulatory approvals in the relevant East African jurisdictions.
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