Tanzanian billionaire Rostam Aziz has acquired a controlling stake in Nation Media Group, marking a major shift in ownership of one of East Africa’s largest media houses.
The shares were previously held by the Aga Khan Fund for Economic Development through NPRT Holdings Africa Limited. The deal involves the transfer of about 54% of NMG shares, giving Aziz majority control of the Nairobi-listed company.
The transaction brings to an end more than six decades of ownership by the Aga Khan Development Network, which first invested in the media group in 1959.
Nation Media Group operates some of the region’s most influential media outlets including Daily Nation, NTV, Business Daily, and The EastAfrican.
The acquisition is subject to regulatory approvals in Kenya and could mark a new chapter for the regional media industry, with expectations of increased investment and digital expansion.
