Geneva. The Aga Khan Fund for Economic Development (AKFED) has agreed to sell its entire stake in NPRT Holdings Africa Limited to Taarifa Ltd, a holding company owned by Rostam Azizi..
The transaction involves 92,618,177 ordinary shares, representing a 54.08 percent holding in Nation Media Group PLC (NMG), formally ending a partnership that began in 1959.
Geneva-based AKFED established NMG over six decades ago to provide an independent voice during the colonial era.
Beginning with the Kiswahili newspaper Taifa Leo, the media house has grown into the largest independent media group in East and Central Africa, operating more than 30 brands across Kenya, Uganda, Tanzania and Rwanda.
Mr Azizi is a Tanzanian entrepreneur and economist.
Mr Azizi previously co-founded Tanzania-based Mwananchi Communications Limited, which was later acquired by NMG.
He has pledged to safeguard the group’s editorial independence while accelerating its digital growth.
The buyer confirmed that NMG will remain listed on the Nairobi Securities Exchange and other regional markets.
The existing board will continue to oversee operations, ensuring stability during the transition.
Legacy and impact
In 2024, NMG reached a major digital milestone, surpassing 62 million users.
Its legacy includes the launch of the Daily Nation in 1960 and the creation of broadcast platforms such as NTV Kenya.
Over the decades, the group has played a key role in supporting democratic processes, particularly during constitutional reforms and political transitions in the region.
Although AKFED is exiting NMG, the Aga Khan Development Network remains active in media through the Graduate School of Media and Communications, which has trained more than 7,000 professionals.
The fund will also maintain its broader investments in financial services, hospitality and industrial ventures across East Africa.
Regulatory process
The sale is subject to standard regulatory approvals, with both parties expecting completion within three to four months.
The transaction will proceed once all legal and regulatory conditions are satisfied.
