The Aga Khan Fund for Economic Development (AKFED) has announced an agreement to sell its entire shareholding in Nation Media Group (NMG), marking the end of more than six decades of ownership and partnership in one of East Africa’s most influential media organizations.
In a press release issued on March 10, 2026, AKFED said it had entered into an agreement to sell its 100 percent stake in NPRT Holdings Africa Limited to Taarifa Ltd, a company owned by East African businessman Rostam Aziz. NPRT Holdings Africa currently holds a 54.08 percent shareholding in Nation Media Group, representing 92,618,177 ordinary shares, making it the controlling shareholder in the regional media conglomerate.
The transaction effectively concludes AKFED’s 66-year association with Nation Media Group, which began in 1959 when Prince Karim Aga Khan IV founded East African Newspapers (Nation Series) Ltd and acquired the Kiswahili weekly Taifa Leo. Over the decades, the group expanded into a multi-platform media powerhouse operating across several East African countries.
According to AKFED, the move is intended to position the media house for the next phase of growth, particularly in the digital space. The new owner, Taarifa Ltd, has pledged to support the company’s transition and accelerate its digital transformation while strengthening connections with audiences across the region.
“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 said in a statement.
Nation Media Group has long played a central role in East Africa’s media landscape. The first issue of the Daily Nation was published on March 20, 1960, and the newspaper had already established itself as a trusted source of news and analysis by the time Kenya gained independence in 1963. The company later expanded into broadcast media with the launch of NTV Kenya and Easy FM in 1999 and broadened its regional footprint through acquisitions and partnerships, including investments in Uganda and Tanzania.
Today, NMG operates more than 30 media brands across East Africa and reaches over 62 million digital users, while employing more than a thousand professionals across the region.
AKFED Director Sultan Allana said the organization was proud of its role in building one of Africa’s most respected media institutions.
“AKFED built one of the region’s most influential media groups. At pivotal moments, NMG has served as a cornerstone of society, providing a platform for voices that might otherwise go unheard,” Allana said.
The Aga Khan Development Network also noted that it will continue investing in journalism education through the Graduate School of Media and Communications at Aga Khan University, which trains journalists and media professionals across East Africa.
The sale represents one of the most significant ownership transitions in the history of East African media and is expected to attract close attention from regulators, investors, and industry observers across the region.
