DNK International By Our Reporters, DarEs-Salaam and Nairobi
Tanzanian billionaire businessman Rostam Abdulrasul Azizi has taken control of Nation Media Group (NMG) after acquiring the 54.08 percent controlling stake previously owned by the Aga Khan Fund for Economic Development (AKFED).
His take over brings to an end more than six decades of ownership by the development institution linked to Aga Khan IV and marks one of the most significant ownership transitions in the history of East African media.
The acquisition was executed through Azizi’s investment company Taarifa Limited, which purchased AKFED’s stake in NPRT Holdings Africa Limited, the entity through which the Aga Khan group controlled NMG.
The stake represents slightly over 54 percent of the Nairobi-listed media house, giving the Tanzanian tycoon effective control of the company whose flagship publication, the Daily Nation, has for decades been regarded as the region’s most influential newspaper.
Azizi was born on August 21, 1960, in Tabora, Tanzania.
He grew up in a prominent trading family of Persian origin that had long established commercial roots in East Africa.
The businessman attended school in Tanzania before moving to the United Kingdom for higher education where he studied economics at the University of Exeter.
His academic background in economics later shaped his approach to business and investment across multiple sectors in Africa and the Middle East.
Azizi, a Tanzanian national, has built one of the largest private business empires in East Africa.
He is widely known as Tanzania’s first dollar billionaire and one of the region’s most powerful entrepreneurs.
Despite his public business profile, he maintains a relatively private personal life and is married with children.
His rise to wealth began through investments in telecommunications and energy.
Azizi once held a significant stake in Vodacom Tanzania, a venture that became one of the country’s largest mobile network operators.
After selling much of that stake, he expanded aggressively into other sectors including mining, aviation, real estate and gas distribution.
Among his most prominent investments is Taifa Gas Group, one of the fastest growing liquefied petroleum gas suppliers in East and Southern Africa.
His business interests also extend to telecommunications through holdings connected to Tigo Tanzania and Zantel, as well as mining ventures and energy projects operating across several African countries and parts of the Middle East.
Beyond business, Azizi has also had a political career in Tanzania.
He served as a Member of Parliament for the Igunga constituency from 1994 to 2011 under the ruling Chama Cha Mapinduzi (CCM) party.
During his time in politics he also held influential positions within the party, including serving as its national treasurer and organising treasurer before stepping away from active politics to concentrate fully on his expanding global business empire.
Over the years Azizi has cultivated relationships with government and business leaders across East Africa due to his investments in critical sectors such as telecommunications, energy and infrastructure.
His companies have operated or invested in Tanzania, Kenya, Oman, the United Arab Emirates and other African markets, making him one of the region’s most connected private investors.
His acquisition of Nation Media Group represents a major turning point for the organization founded in 1959 when Aga Khan IV invested in what was then a small Kiswahili newspaper that later grew into the Daily Nation.
Over the decades the company expanded into television, radio and digital platforms and established operations in Kenya, Uganda, Tanzania and Rwanda, becoming the largest independent media house in East Africa.
The departure of the Aga Khan development network from majority ownership has therefore been viewed as the end of an era in regional journalism.
For decades the Aga Khan institutions positioned the media group as a champion of independent journalism, public accountability and democratic governance.
Azizi’s entry into the sector has generated intense discussion among media stakeholders, journalists and analysts.
Some observers believe the arrival of a well capitalized regional investor could provide the financial muscle needed for NMG to modernize and compete in an era where traditional newspapers face declining advertising revenue and a rapid shift toward digital platforms.
Others have expressed caution, arguing that the concentration of such a powerful media institution in the hands of a major business figure could raise questions about editorial independence and influence in a region where media freedom often faces political and economic pressures.
People familiar with Azizi’s investment philosophy told Daily News Kenya-International that the businessman is a long term strategic investor who focuses on scaling businesses and expanding markets across borders.
In past remarks about economic development in Africa, Azizi has emphasized the importance of strong private investment and regional integration as drivers of growth.
As the acquisition moves through regulatory processes, analysts say the future of Nation Media Group under Azizi will be closely watched across Africa.
The media house that once defined the voice of East African journalism now enters a new phase under one of the region’s most powerful billionaires, a shift that could reshape the future of media ownership, investment and editorial direction in the region.
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🗓️ [DNK-International@March12,2026]
