A major ownership change has taken place in East Africa’s media sector after Nation Media Group (NMG) announced a transition that will place several prominent Ugandan media outlets under new majority ownership.
The development follows an agreement announced on March 10, 2026, in which the Aga Khan Fund for Economic Development (AKFED) agreed to sell its controlling stake in NMG to Taarifa Ltd, a company owned by Tanzanian businessman Rostam Azizi.
What the Deal Means for Uganda
For Ugandan audiences, the deal directly affects major media brands such as Daily Monitor, NTV Uganda, and KFM, all of which operate under Nation Media Group.
The transaction transfers 100 percent of AKFED’s shares in NPRT Holdings Africa Limited, the entity that holds a 54.08 percent controlling stake in NMG. The stake represents approximately 92.6 million ordinary shares, effectively giving Azizi majority control of the regional media group.
Nation Media Group expanded its footprint in Uganda in the early 2000s after acquiring the Daily Monitor newspaper, which has since become one of the country’s most influential independent news publications.
End of a 66-Year Ownership Era
The agreement marks the end of a long chapter for AKFED, which has been involved with Nation Media Group since 1959 when Aga Khan IV supported the creation of the media organization.
Over the decades, the group grew into one of East Africa’s most prominent media institutions, operating newspapers, television stations, radio platforms, and digital outlets across multiple countries.
AKFED said the organization has remained committed to promoting credible journalism, democratic values, and independent reporting across the region.
Azizi Promises Investment and Independence
Following the announcement, Rostam Azizi expressed commitment to protecting NMG’s editorial independence while strengthening the organization’s long term growth.
He described Nation Media Group as a vital institution for East Africa and pledged to invest in its modernization and digital transformation as media consumption habits continue to evolve.
Azizi also emphasized that the company intends to provide the resources necessary for the group to maintain its reputation for professional journalism and public interest reporting.
No Plans to Delist Shares
According to statements from Taarifa Ltd, there are currently no plans to delist Nation Media Group from stock exchanges, including the Uganda Securities Exchange where its shares are publicly traded.
The company also indicated that minority shareholders will remain part of the ownership structure.
Awaiting Regulatory Approval
The acquisition is still subject to regulatory approvals across the region and is expected to be finalized in the coming months.
Once completed, the transaction will officially place Daily Monitor, NTV Uganda, and other NMG outlets under Tanzanian-led majority ownership.
For Uganda’s media industry, the deal marks the beginning of a new chapter that could bring fresh investment and strategic direction while preserving the long standing legacy of independent journalism associated with the group.
