Aga Khan has sold majority shares in Nation Media Group after approval from the Kenya Capital Market Authority.

The sale marks the end of an AKFED decades-long ownership in one of East Africa’s top media groups and usher in a new era for the group.

In a public notice, NPRT confirmed it had been granted an exemption from Regulation 4 of the Takeover and Mergers Regulation allowing the transaction to proceed without triggering a mandatory takeover bid to minority shareholders.

“NPRT is therefore exempted from making a mandatory takeover offer to the remaining shareholders of NMG and does not intend to acquire any additional shares,” the company said.

Financial Performance

NMG, the largest media house in the region, half year results reveal persistent financial strain despite operational improvements.

The company posted a net loss of Ksh41 million) narrowing from Ksh254.4 million in 2024.

Cost-cutting and Digital Focus

Cost cutting and restructuring efforts reduced operating expenses by 5.2% while a stronger focus on digital products improved gross profit margins to 40.7%.

However, falling print circulation, rising input costs and weaker advertising revenues continue to weigh on the group.

NMG has closed some print editions,laid off staff and expanded it’s portfolio of podcasts, newsletters and video products to reach younger,online-first audience.

Regional Media Footprint

Nation Media Group is the most diversified media house in East Africa with assets spanning print, broadcast and digital platforms.

In Kenya it operates Daily Nation, Business Daily, Saturday and Sunday Nation, Taifa Leo,NTV Kenya and Nation FM.

NMG operates the following outlets in Uganda: Daily Monitor, Saturday and Sunday Monitor,NTV Uganda,Dembe FM and KFM.

The Company also ownsThe Citizen, Mwananchi and Mwanaspoti in Tanzania.

NMG operates The East African (Regional Weekly) in Rwanda.

Africa digital channels form a key part of the group’s plan to change audience habits, with more investment in video production and streaming services.

About NPRT

NPRT Holdings Africa is a holding company with interest in media, technology and strategic infrastructure across the region.

This restructuring places NPRT at the forefront of forging technology and advertising models to roll out digital-first products and secure continued growth in East Africa’s media market.

Future Outlook

The deal still awaits final regulatory approvals before closing.If completed,it will be one of the most significant significant media ownership changes in East Africa and could influence how other legacy media groups restructure to digital disruption.

His Highness Prince Rahim Aga Khan V
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