Aga Khan Fund for Economic Development (AKFED) has announced its agreement to sell 100% of its controlling interest in the Nation Media Group (NMG) in NPRT Holdings Africa Limited to Taarifa Ltd. This move signifies the end of a relationship spanning sixty-six years, during which the media house grew from a single publication into one of the region’s most prominent multi-platform conglomerates.
NPRT Holdings holds 54.08 percent stake in NMG, the deal effectively transfers majority control of more than 92 million ordinary shares to the new owner. This transition is currently awaiting the necessary regulatory clearances and is projected to reach completion within the next three to four months.
Taarifa Ltd. is owned by Rostam Azizi, an East African entrepreneur and economist with a diverse portfolio across sectors such as telecommunications, energy, and mining. Azizi is not a newcomer to the media industry, he previously co-founded Mwananchi Communications which was later integrated into NMG and holds interests in Habari Corporation in Tanzania. Azizi has signaled a strong commitment to preserving the editorial independence that has defined NMG while investing heavily in the group’s future as a leading independent media provider.
NMG was established in 1959 with the goal of providing a free and independent press for the African majority during the colonial era. Starting with the Kiswahili newspaper Taifa Leo, the group expanded to launch the Daily Nation in 1960 and later became one of the first African media entities to list on a securities exchange in 1973.
NMG Market Performance
Nation Media Group maintains a significant presence on the Nairobi Securities Exchange, where it has been listed since 1973, in addition to being cross listed on exchanges in Rwanda, Tanzania, and Uganda. As of March 10, 2026, the company’s market capitalization stood at KES 2.33 billion, accounting for approximately 0.068% of the total equity market on the Nairobi exchange.
While the stock experienced a 2.16% dip to KES 13.60 on its most recent trading day, it has demonstrated a robust year-to-date recovery of 17.8%, placing it 21st in performance for 2026. Trading activity remains relatively steady, with the stock ranking as the 36th most traded on the Nairobi Securities Exchange over the last three months, though its annual valuation has declined by 7.8% despite recent short-term gains. Financially, the group currently reports a negative earnings per share of -0.3538 and a price-to-earnings ratio of -38.44.
Under AKFED’s stewardship, NMG played a critical role in the democratic evolution of the region, providing vital coverage during major political transitions and constitutional reforms. Today, the organization encompasses over 30 brands across four countries, reaching a digital audience of more than 62 million users.
The sale is positioned as a way to further NMG’s digital transformation. Taarifa Ltd. intends to support the group’s efforts to modernize its connection with consumers and accelerate growth in the digital space. For current investors and the broader market, the transition aims for stability; there are no immediate plans to delist NMG from the Nairobi Securities Exchange or to launch a mandatory takeover bid for the remaining minority shares.
Also read: https://tradingroom.co.ke/nprt-cleared-to-acquire-54-of-nation-media-group/
