Aga Khan sells Nation Media Group

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The Aga Khan Fund for Economic Development (AKFED) has agreed to sell its 100% stake in Nation Media Group (NMG) to Taarifa Ltd, a company owned by Tanzanian businessman Rostam Azizi. Azizi has businesses in media, mining, telecoms, agriculture, and more.


AKFED says the sale marks the end of its 66-year association with NMG, which started in 1959. The buyer plans to invest in NMG's digital growth and support its journalism tradition.


The deal should wrap up in 3-4 months, pending approvals. Taarifa Ltd won't buy out other NMG shares or delist the company from securities exchanges.


NMG is listed on Nairobi, Uganda, Dar es Salaam, and Rwanda stock exchanges. The Aga Khan founded NMG to promote a free press in Kenya.


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