The Aga Khan Fund for Economic Development (AKFED) has announced the sale of its majority stake in Nation Media Group (NMG), marking the conclusion of a historic partnership that has lasted more than six decades.
The transaction involves the sale of 100% shareholding in NPRT Holdings Africa Limited to Taarifa Ltd. NPRT currently holds 54.08% of shares in Nation Media Group, representing 92,618,177 ordinary shares.
The announcement was made in Geneva, Switzerland on 10 March 2026, signaling a major shift in ownership for one of East Africa’s most influential media organizations.
A Historic Media Legacy
AKFED’s relationship with Nation Media Group dates back to 1959, when Karim Aga Khan IV founded East African Newspapers (Nation Series) Ltd and acquired the Kiswahili weekly newspaper Taifa Leo.
What began as a modest effort to promote an independent press in East Africa grew into one of the region’s largest media organisations. Today, Nation Media Group operates more than 30 media brands across four countries, reaching over 62 million digital users and employing more than 1,000 professionals.
The group’s flagship publication, Daily Nation, first appeared on 20 March 1960 and quickly established itself as a trusted source of news and analysis. By the time Kenya gained independence in 1963, the publication had already become a respected voice in the country’s media landscape.
In 1973, Nation Media Group became one of the first African media companies to list on a securities exchange, with its shares trading on the Nairobi Securities Exchange.
Supporting Digital Growth
According to AKFED, the decision to sell its stake comes as the media group continues to evolve in response to the rapidly changing digital media landscape.
The new investor, Taarifa Ltd, has committed to supporting Nation Media Group’s digital transformation strategy and strengthening its connection with audiences while maintaining the group’s tradition of public interest journalism.
AKFED noted that the transition will help accelerate NMG’s growth as a leading regional media organisation in an increasingly digital world.
The Buyer Behind the Deal
Taarifa Ltd is owned by East African businessman and entrepreneur Rostam Aziz, who has extensive experience across sectors including media, telecommunications, mining, energy, agriculture, real estate and construction.
Aziz previously served as a shareholder in Mwananchi Communications Limited in Tanzania between 2000 and 2006, where he helped establish publications such as Mwananchi, The Citizen, and Mwanaspoti, which were later acquired by Nation Media Group.
Speaking about the acquisition, Aziz described Nation Media Group as “an institution of profound importance to East Africa” and emphasized his commitment to maintaining the company’s editorial independence while investing in its continued growth.
Transaction Timeline and Approvals
The transaction remains subject to regulatory approvals and other standard conditions.
If approved, the deal is expected to be completed within three to four months.
Taarifa Ltd has also confirmed that it does not currently plan to make a mandatory or voluntary offer for the remaining shares of Nation Media Group. The company will remain listed on the Nairobi Securities Exchange and other cross-listed exchanges, with its existing board continuing to oversee operations.
Looking Ahead
While the sale marks the end of AKFED’s long stewardship of Nation Media Group, the organisation says it will continue supporting journalism and media development through the Aga Khan University’s Graduate School of Media and Communications, which trains future media professionals across Africa.
As ownership transitions to Taarifa Ltd, the focus now shifts to expanding digital innovation, strengthening journalism, and sustaining the legacy of one of Africa’s most influential media institutions.
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