Nation Media Group Alerts Investors After Tanzania Tycoon Targets Ownership Change

Nation Media Group (NMG) has issued a cautionary notice to its shareholders and the general public after receiving notification of a proposed transaction that could lead to a change in its majority ownership.

In a statement dated Thursday, March 12, 2026, the board of NMG said it had been served with a notice of intention from Taarifa Ltd, a company owned by Tanzania Tycoon Rostam Azizi, regarding plans to acquire the entire issued share capital of NPRT Holdings Africa Limited from Aga Khan Fund for Economic Development (AKFED).

“The Board of Directors of Nation Media Group PLC (NMG or the Company) wishes to inform its shareholders and the general public that on 10 March 2026, NMG was served with a notice of intention (the Notice of Intention) by Taarifa Ltd (Taarifa) of Taarifa’s intention to acquire 100% of the issued share capital of NPRT Holdings Africa Limited (NPRT) from Aga Khan Fund for Economic Development S.A. (AKFED) (the Proposed Transaction),” read part of that notice.

Nation Media Group Issues Cautionary Notice as Tanzania Tycoon Eyes Control

NPRT Holdings Africa Limited, a subsidiary of AKFED incorporated in Kenya, currently holds 92,618,177 shares in Nation Media Group, representing 54.08%of the company’s total issued shares.

If the proposed transaction is completed, Taarifa Ltd would effectively gain control of the majority stake in Nation Media Group through the acquisition of NPRT Holdings Africa Limited.

However, the notice stated that Taarifa Ltd has indicated that it does not intend to make a takeover offer for the remaining shares in Nation Media Group.

Instead, the company plans to apply to the Capital Markets Authority of Kenya for an exemption from the requirement to make a mandatory takeover bid.

Also Read: Tanzanian Tycoon Rostam Azizi Reveals Details of Nation Media Group Acquisition

Nation Media Group said the completion of the proposed deal remains subject to regulatory approvals in relevant jurisdictions.

The company noted that the notice of intention has been published on its investor relations page and that further announcements will be made to keep shareholders informed of any significant developments.

Investors have been advised to exercise caution when dealing in the company’s shares and to seek professional advice where necessary.

Tanzanian Tycoon Rostam Azizi Reveals Details of Proposed Acquisition

On Wednesday, March 11, 2026, Tanzanian tycoon Rostam Azizi issued a statement providing 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.

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.

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

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.

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Tanzanian businessman Rostam Azizi addresses the media at the Serena Hotel in Nairobi on March 11, 2026. PHOTO/NMG