Taifa Group Founder, Rostam Azizi, and Sultan Ali Allana, Director of the Aga Khan Fund for Economic Development (AKFED), sign transaction documents at Serena Hotel, Nairobi, on March 10, 2026. Following the signing, Taifa Group—through its affiliate Taarifa Ltd—acquired the entire shareholding previously held by AKFED in NPRT Holdings Africa Limited (NPRT), a Kenyan private limited liability company that holds the majority stake in Nation Media Group.
The Aga Khan Fund for Economic Development (AKFED) has announced plans to sell its entire shareholding in Nation Media Group (NMG), ending a 66-year association with one of East and Central Africa’s largest media houses.
In a statement issued on Tuesday, AKFED said it had entered into an agreement to sell its 100 per cent shareholding in NPRT Holdings Africa Limited to Taarifa Ltd.
NPRT holds a 54.08 per cent stake in Nation Media Group, representing 92,618,177 ordinary shares.
The proposed transaction, which remains subject to regulatory approvals, is expected to be completed within three to four months once all required conditions are met.
AKFED said the deal would conclude its long-standing partnership with the media company, which began in 1959, and comes as the organisation seeks to transition ownership while the group continues investing in digital transformation.
“AKFED is proud of its contribution to building one of Africa’s most respected media institutions,” said AKFED Director Sultan Allana.
“We are confident NMG will continue to uphold the values of independent journalism and service to the public that have defined it for over six decades.”
Nation Media Group traces its origins to the acquisition of the Kiswahili-language weekly Taifa Leo in 1959, which was intended to support the development of an independent press during the colonial period.
Over the following decades, the company expanded into a multi-platform media organisation with more than 30 brands operating across Kenya, Uganda, Tanzania and Rwanda.
The first issue of the Daily Nation was published on March 20, 1960, and by the time Kenya gained independence in December 1963 the newspaper had become an established source of news and analysis.
NMG later became one of the first media companies in Africa to list on a securities exchange, with its shares trading on the Nairobi Securities Exchange since 1973.
According to the statement, the media group now reaches more than 62 million digital users and employs over 1,000 professionals across the region.
It operates several publications, including the Daily Nation, Sunday Nation and The EastAfrican, alongside broadcast and digital platforms such as NTV Kenya and Nation FM.
AKFED said Taarifa Ltd had expressed its intention to support Nation Media Group’s continued development, particularly in expanding its digital presence and strengthening engagement with audiences.
Taarifa Ltd is owned by East African businessman and economist Rostam Azizi, who has investments across sectors including media, mining, telecommunications, agriculture, real estate, energy and construction.
Azizi previously co-founded and held a shareholding in Mwananchi Communications Limited between 2000 and 2006.
During that period, he initiated the establishment of the Mwananchi, The Citizen and Mwanaspoti newspapers, which were later acquired by Nation Media Group.
He currently holds interests in Habari Corporation, a media house based in Tanzania.
“We are honoured and deeply committed to becoming the majority shareholder of Nation Media Group,” Azizi said.
“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.”
AKFED said Taarifa Ltd had indicated it does not currently plan to make a mandatory or voluntary offer for the remaining shares in the company, nor does it intend to pursue delisting from any securities exchange.
Nation Media Group’s shares will therefore continue trading on the Nairobi Securities Exchange and on other exchanges where the company is cross-listed, while the existing board will remain responsible for overseeing the organisation’s operations.
The statement also said the broader Aga Khan Development Network would continue supporting journalism through the Aga Khan University Graduate School of Media and Communications.
The school, launched in 2015, provides postgraduate education and professional training for journalists, communicators and media executives across East Africa.
According to the statement, the institution has graduated more than 200 postgraduate professionals and trained more than 7,000 media practitioners in areas including digital strategy, newsroom leadership and gender-responsive reporting.
AKFED said the planned sale marks the close of its direct ownership role in Nation Media Group while maintaining its broader commitment to advancing journalism and media education in the region.