Tanzanian Billionaire Rostam Azizi Acquires Majority Stake in Nation Media Group
The acquisition gives Azizi majority ownership of the Nairobi-based media giant after purchasing a 54.08 percent stake previously held through an investment structure linked to the Aga Khan Fund for Economic Development (AKFED).
The deal was executed through one of Azizi’s investment companies, which agreed to purchase 100 percent of NPRT Holdings Africa Limited, the investment vehicle that held AKFED’s controlling stake in the media company.
Through NPRT Holdings, AKFED controlled 92,618,177 ordinary shares in Nation Media Group, effectively giving Azizi the largest ownership stake in the company once the transaction is finalized.
Although the financial value of the deal has not been publicly disclosed, industry analysts say the transaction represents a historic moment for East Africa’s media landscape, signaling a new era for the region’s largest independent media organisation.
The sale also marks the conclusion of a 66-year association between Nation Media Group and AKFED, a relationship that began in 1959 when Aga Khan IV, also known as Prince Karim Aga Khan, established East African Newspapers (Nation Series) Ltd.
During the same period, the media enterprise also acquired Taifa Leo, a Swahili weekly publication that later evolved into one of the region’s most recognized newspapers.
Over the decades, Nation Media Group expanded into a powerful multimedia organisation with operations spanning print, broadcast, and digital platforms across East Africa.
Azizi’s entry into Nation Media Group represents both a strategic investment and a personal return to the media sector.
Earlier in his career, the Tanzanian businessman co-founded a communications company that launched influential publications in Tanzania, some of which were later acquired by Nation Media Group as part of its regional expansion strategy.
Despite concerns that often accompany major ownership changes within media organisations, Azizi has sought to reassure stakeholders that the company’s editorial independence will remain intact.
“We are honoured and deeply committed to becoming the majority shareholder of Nation Media Group,” Azizi said in a statement announcing the acquisition.
He further emphasized the historic role played by the organisation in shaping journalism across the region.
“NMG is an institution of profound importance to East Africa, and we will uphold its editorial independence while investing in its continued success as the region’s leading independent media organisation,” he stated.
The businessman also indicated that his investment would focus on strengthening the company’s digital strategy while expanding its reach across East Africa’s rapidly evolving media market.
Industry observers note that the move comes at a time when traditional media houses are increasingly shifting toward digital platforms to adapt to changing audience consumption habits.
However, the transaction is not yet fully completed. Regulatory approvals from relevant authorities across the region will still be required before the deal is formally finalized.
Officials involved in the process expect the approvals and completion procedures to take approximately three to four months.
Once completed, Azizi’s acquisition is expected to usher in a new chapter for Nation Media Group, one that could reshape the company’s strategic direction while maintaining its longstanding role as a major voice in East African journalism.
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Tanzanian Billionaire Rostam Azizi Acquires Majority Stake in Nation Media Group
