Tanzanian tycoon takes control of East Africa’s largest media group
Rostam Aziz speaking in Tanzania
Tanzanian businessman Rostam Aziz has acquired a controlling stake in Nation Media Group (NMG), East Africa’s largest media company, the BBC reported on 14 March.
Aziz said his company, Taarifa Ltd, had purchased a 54% share in the group from the Aga Khan Fund for Economic Development (AKFED), which decided to sell the stake after reviewing its investments. The deal is expected to be finalised within the next four months.
Nation Media Group operates newspapers, television stations and digital outlets across Kenya, Tanzania, Uganda and Rwanda. Its publications include Kenya’s Daily Nation, Tanzania’s Mwananchi and Uganda’s Daily Monitor.
Aziz’s takeover, which remains subject to regulatory approval, has raised concerns among some journalists at the group about the future of its editorial independence.
The businessman previously served as a member of parliament for Tanzania’s ruling Chama Cha Mapinduzi (CCM) party and has close ties with political leaders across East Africa.
His links include Kenyan President William Ruto, who commissioned his Taifa Gas plant in the coastal city of Mombasa in 2023. It has been suggested that these connections have helped Aziz expand his business interests across the region.
Speaking at a press conference in Nairobi, Aziz said he supported “credible and independent journalism” and described the purchase as a strategic commercial investment grounded in editorial professionalism and institutional credibility.
Churchill Otieno, president of the Africa Editors Forum and a former senior editor at NMG, said the change in ownership raised questions about the future role of the organisation. He said the group had long functioned as part of East Africa’s democratic infrastructure.
Bernard Mwinzi, a former senior editor at the group, said NMG’s ownership by a development agency rather than a commercial conglomerate or political family had long set it apart from many media organisations in the region.
Nation Media Group was founded in 1959 by the Aga Khan, Prince Karim al-Hussaini, who said at the time that a free and independent press was essential to democracy. Its aim was to provide a platform for African voices during the final years of colonial rule. The company has since grown into one of the region’s largest media organisations.
Aziz has built a business empire spanning sectors including energy, telecommunications and mining across East Africa. He previously co-founded Mwananchi Communications in Tanzania, which publishes several newspapers and was later acquired by NMG.
He said he planned to invest in expanding the group’s digital platforms as audiences increasingly shift online, while maintaining the company’s editorial independence.
BBC Africa, Business Daily Africa, The Financial Times, Maghrebi.org
Want to chase the pulse of North Africa?
Subscribe to receive our FREE weekly PDF magazine
