The Aga Khan Fund for Economic Development (AKFED) has announced plans to sell its entire shareholding in NPRT Holdings Africa Limited, the majority shareholder of Nation Media Group (NMG), marking the end of a 66-year association with one of East Africa’s most influential media organisations.

In a statement on Tuesday, March 10, 2026, AKFED said it had reached an agreement to sell its 100 per cent stake in NPRT Holdings Africa Limited to Taarifa Ltd, a firm owned by Tanzanian businessman Rostam Azizi. NPRT currently holds 54.08 per cent of NMG, equivalent to 92,618,177 ordinary shares.

The transaction, subject to regulatory approvals, is expected to be completed within three to four months.

AKFED said the deal concludes its six-decade partnership with the media group, which began in 1959 when Karim Aga Khan IV founded East African Newspapers (Nation Series) Ltd and acquired the Kiswahili newspaper Taifa Leo.

What began as a modest weekly publication aimed at promoting an independent African voice during the colonial period grew into one of the largest media organisations in the region. 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 first issue of Daily Nation was published on March 20, 1960, and by the time Kenya gained independence in 1963, the newspaper had already established itself as a leading source of news and analysis.

NMG later expanded its operations into broadcasting and regional media markets. Key milestones included its listing on the Nairobi Securities Exchange in 1973, the launch of NTV Kenya and Easy FM in 1999, and regional expansion through the acquisition of Daily Monitor and the establishment of Mwananchi Communications Limited in Tanzania.

The company was also among the first African media houses to establish a comprehensive online presence in 2006, positioning itself early for the digital transition in the media industry.

AKFED Director Sultan Allana said the organisation was proud of its role in building one of Africa’s most respected media institutions.

“AKFED is proud of its contribution to building one of Africa’s most respected media institutions,” Allana said. “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.”

The new majority shareholder, Rostam Azizi, said Taarifa Ltd plans to support NMG’s continued growth, particularly its digital transformation.

“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.”

Azizi has previously been involved in the region’s media sector. He was a co-founder and shareholder of Mwananchi Communications Limited between 2000 and 2006, where he helped establish the Mwananchi, The Citizen, and Mwanaspoti newspapers before they were later acquired by Nation Media Group.

AKFED said that despite the ownership transition, the Aga Khan Development Network will continue supporting media development through the Aga Khan University Graduate School of Media and Communications, which trains journalists and media professionals across East Africa.

The buyer has also confirmed that it does not currently plan to delist Nation Media Group from the Nairobi Securities Exchange, and that the company’s shares will continue trading publicly while the existing board maintains oversight of operations.