Tanzanian Tycoon Rostam Azizi Reveals Details of Nation Media Group Acquisition

Tanzanian tycoon Rostam Azizi has provided additional details on the proposed indirect acquisition of Nation Media Group (NMG) through his company, Taarifa Ltd, after announcing plans on Tuesday, March 10, 2026, to acquire the Aga Khan-owned media group.

In a statement issued on Wednesday, March 11, 2026, Taarifa outlined how it intends to indirectly acquire 54.08% of Nation Media Group from the Aga Khan Fund for Economic Development (AKFED).

According to the company, the acquisition will be executed through the purchase of 100% of NPRT Holdings Africa Limited (NPRT), a holding company that owns 92,618,177 NMG shares, representing 54.08% of NMG’s issued share capital.

“Taarifa and Aga Khan Fund for Economic Development SA (“AKFED”) have entered into a conditional Share Purchase Agreement (SPA) dated March 10, 2025, under which Taarifa will acquire 100% of the issued shares of NPRT Holdings Africa Limited (“NPRT”) from AKFED,” read part of the statement.

Once the transaction is completed, Taarifa will gain effective control of Nation Media Group, one of East Africa’s largest independent media organisations.

Taarifa Seeks Takeover Exemption In Planned Control Of Nation Media Group

Despite gaining majority control, Taarifa said it does not intend to make a mandatory takeover offer for the remaining publicly held shares of Nation Media Group.

The company confirmed that it has formally served notice to the board of NMG of its intention not to make a takeover offer, a move triggered by the planned indirect acquisition.

Taarifa has also submitted the notice to several regulators and market authorities including the Capital Markets Authority (Kenya), Capital Markets and Securities Authority of Tanzania, and the Capital Markets Authority of Uganda, as well as the Nairobi, Dar es Salaam, Rwanda and Uganda securities exchanges.

Because the acquisition will give Taarifa effective control of NMG, takeover regulations in Kenya, Tanzania, and Uganda would normally require the buyer to make an offer for all remaining shares.

However, Taarifa has applied for regulatory exemptions in the three jurisdictions to avoid triggering mandatory takeover requirements.

The company said the deal is structured as an acquisition of NPRT Holdings Africa, rather than a direct purchase of NMG shares, and therefore requires coordinated regulatory approvals across the markets where NMG is listed.

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Objectives of the Acquisition

Taarifa said the proposed transaction is aimed at strengthening Nation Media Group’s long-term financial stability and supporting its growth strategy.

The company outlined several objectives for the acquisition, including:

Supporting NMG’s digital transformation initiatives
Strengthening the media group’s regional expansion across East Africa
Maintaining NMG’s listing on regional stock exchanges
Enhancing shareholder value while preserving existing shareholder rights
Leveraging Taarifa’s media industry experience and strategic networks

Taarifa added that the transaction is not expected to result in significant changes to NMG’s business operations or strategic direction, and the company intends to continue working with existing shareholders to strengthen the media house’s position in the region.

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About the Parties

Taarifa Ltd is a holding company incorporated in Mauritius and controlled by Rostam Azizi, a prominent Tanzanian businessman with extensive investments in the regional media industry.

Azizi previously founded and invested in Mwananchi Communications and Citizen Publications in Tanzania, which were later sold to Nation Media Group. He also holds interests in Habari Corporation Limited, another Tanzanian media company.

Nation Media Group, headquartered in Nairobi, is the largest independent media house in East and Central Africa, with operations spanning newspapers, television, radio, and digital platforms. Its shares are listed on the Nairobi, Dar es Salaam, Rwanda, and Uganda securities exchanges.

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