NAIROBI, Kenya, Mar 10 — The Aga Khan Fund for Economic Development (AKFED) will exit its 66-year investment in Nation Media Group (NMG) after agreeing to sell its controlling stake to Tanzanian businessman Rostam Azizi. The deal will see Azizi acquire 92.6 million ordinary shares, effectively giving him majority ownership of the regional media house. However, NMG shares will continue trading on the Nairobi Securities Exchange and other cross-listed platforms. Nation Media Group traces its origins to 1959, when Prince Karim Aga Khan IV acquired the Kiswahili weekly Taifa Leo, laying the foundation for what has grown into one of East Africa’s largest media organisations. “We are honoured and deeply committed to becoming the majority shareholder of Nation Media Group,” Azizi said, adding that the company will uphold the media house’s editorial independence while investing in its future growth.

Source: Daily Nation March 10, 2026 21:29 UTC