The Aga Khan Fund for Economic Development (AKFED) has announced the sale of its controlling stake in Nation Media Group (NMG), bringing to a close a 66-year partnership that helped build one of East and Central Africa’s most influential media organizations.
In a statement issued on March 10, 2026, in Geneva, Switzerland, The Aga Khan Fund confirmed it had agreed to sell its 100 percent shareholding in NPRT Holdings Africa Limited (NPRT) to Taarifa Ltd, an investment firm owned by East African businessman Rostam Aziz. NPRT holds a 54.08 percent stake in Nation Media Group PLC, equivalent to 92.62 million ordinary shares.
The transaction effectively transfers majority control of the Nairobi-listed media company to Taarifa Ltd, marking a major shift in the ownership structure of the region’s largest independent media house.
The move concludes a long-standing relationship that began in 1959, when the late His Highness Prince Karim Aga Khan IV founded East African Newspapers (Nation Series) Ltd and acquired the Kiswahili weekly Taifa Leo, laying the foundation for what would become Nation Media Group.
“The transaction marks the conclusion of AKFED’s 66-year association with NMG,” the statement said, adding that the company is now poised to expand its impact through further investment in digital transformation.
Taarifa Ltd said it intends to support NMG’s transition and accelerate its digital growth strategy.
“We are honored and deeply committed to becoming the majority shareholder of Nation Media Group,” said Rostam Aziz, owner of Taarifa Ltd.
“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.”
Aziz brings significant experience in the regional media sector. Between 2000 and 2006, he was a co-founder and shareholder of Mwananchi Communications Limited in Tanzania, where he helped establish Mwananchi, The Citizen, and Mwanaspoti newspapers.
The company was later acquired by Nation Media Group. He currently holds interests in Habari Corporation, another Tanzanian media house.
AKFED Director Sultan Allana praised NMG’s contribution to journalism and democratic discourse across East Africa.
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From modest beginnings as a Kiswahili-language newspaper, NMG has grown into a multi-platform media conglomerate with more than 30 brands across four countries, reaching over 62 million digital users and employing more than 1,000 professionals.
Its flagship title, the Daily Nation, first published on 20 March 1960, quickly established itself as a trusted source of news and analysis even before Kenya’s independence in 1963.
The company later became one of the first media houses in Africa to list on a securities exchange, with its shares trading on the Nairobi Securities Exchange since 1973.
Over the decades, the group has expanded regionally and across platforms, launching The EastAfrican in 1994 and entering broadcast media in 1999 with NTV Kenya and Easy FM. It further expanded into Uganda through the acquisition of the Daily Monitor and into Tanzania through Mwananchi Communications.
NMG has also invested heavily in digital transformation, becoming one of the first African media companies to establish a comprehensive online presence in 2006. Today, the group’s digital platforms reach tens of millions of users across the region.
Beyond commercial operations, the company has played a significant role in public interest journalism and civic education. Initiatives such as the Newspapers in Education programme, launched in 2009, have helped promote literacy and civic awareness in marginalized schools.
AKFED also highlighted the role of the Aga Khan University’s Graduate School of Media and Communications (GSMC) in strengthening journalism in the region. Since its launch in 2015, the school has trained thousands of media professionals through postgraduate degrees and executive education programmes.
With the ownership transition now underway, attention will shift to how the new majority shareholder will steer the next phase of NMG’s growth, particularly as the media industry undergoes rapid digital disruption and evolving audience habits.
Both AKFED and Taarifa Ltd emphasized that editorial independence and public-interest journalism will remain central to the group’s mission as it enters its next chapter.
