Tanzanian tycoon acquires majority stake in Nation Media Group
AKFED said it will sell its entire shareholding in NPRT Holdings Africa Limitedāthe investment vehicle holding a 54.08 percent stake in NMGāto Taarifa Ltd, a firm owned by Azizi. Kenya breaking news | Kenya news today |..
āØ Key Highlights
Tanzanian businessman Rostam Azizi has acquired a majority stake in Nation Media Group (NMG), a leading East African media conglomerate, following the exit of the Aga Khan Fund for Economic Development (AKFED) after a 66-year investment.
- Azizi, through his firm Taarifa Ltd, will acquire 92.6 million ordinary shares, representing a controlling stake in NMG.
- Key players include AKFED, exiting its 54.08% stake, and Rostam Azizi, the incoming majority shareholder.
- NMG, founded in 1959, operates over 30 brands across Kenya, Uganda, and Tanzania, reaching over 62 million digital users.
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