End of an Era: Aga Khan Exits Nation Media After 66 Years as New Investor Steps In

A major shift is unfolding in East Africa’s media industry after the Aga Khan Fund for Economic Development (AKFED) announced it will sell its stake in Nation Media Group. The move brings to an end a partnership that has shaped journalism in the region for more than six decades.

AKFED confirmed it has sold its entire shareholding in NPRT Holdings Africa Limited to Taarifa Ltd. NPRT Holdings Africa Limited controls 54.08 percent of Nation Media Group (NMG), making it the company’s largest shareholder. With the deal complete, Taarifa Ltd will assume the position of majority owner of the media giant.

The transaction closes a historic chapter that began in 1959. For 66 years, the Aga Khan network played a central role in building Nation Media Group into one of the most influential media organizations in East and Central Africa. Under its stewardship, the company expanded across television, radio, print, and digital platforms.

Industry observers say the change in ownership could signal a new phase for the media house as the regional media landscape evolves. Digital transformation, shifting audiences, and economic pressures have forced many traditional media organizations to rethink their strategies.

Taarifa Ltd is owned by East African businessman Rostam Azizi, who already has experience in the media sector. Azizi holds interests in Tanzania’s Habari Corporation, a prominent media company known for publishing newspapers and operating broadcast outlets.

His entry into Nation Media Group places him at the center of one of the region’s most influential media networks. Analysts believe his background in media investment could shape the company’s future direction as it navigates industry disruptions.

Despite exiting the ownership structure, AKFED says its commitment to journalism in the region remains strong. The organization will continue supporting media development through the Aga Khan University Graduate School of Media and Communications (GSMC). Since its launch in 2015, the institution has trained thousands of journalists and media professionals across East Africa.

AKFED Director Sultan Allana expressed confidence in the company’s future following the ownership transition.

“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,” he said.

The sale marks a turning point not only for Nation Media Group but also for the wider media sector in East Africa. As new investors step in, attention now shifts to how the organization will adapt while maintaining the editorial independence and credibility that built its reputation.