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Rostam Azizi, the Tanzanian billionaire who has bought a controlling stake in Nation Media Group, has said his experience in media industry spans over two decades and that he worked with the Aga Khan who previously held the majority share holding in the Nairobi-based company.

Outlining his vision for NMG at Serena Hotel in Nairobi on March 11, Mr Azizi told reporters that his entry in the media started with the launch of Mwananchi Communications Limited in Tanzania.

“My own relationship with the media industry began more than two decades ago, so I am not new in this field,” said the 65-year-old billionaire, who bought the controlling stake through Taarifa Limited.

Taarifa Ltd now holds 92,618,177 ordinary shares, representing 54.08% of the issued share capital of NMG, which was controlled by the Aga Khan Development Network.

Mr Azizi did not disclose the sum involved in the deal, which has been widely reported by media outlets across East Africa.

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“Twenty-six years ago, I had the privilege of being one of the founding investors in Mwananchi Communications Limited in Tanzania, an institution that has since grown into one of the most important and influential pillars of the country’s media landscape,” he continued.

“In 2003, I invited His Highness the Aga Khan to become an investor in Mwananchi Communications. I traveled to Paris, met him, and convinced him to be a partner in the media group that I had started in Tanzania, Mwananchi Limited.

“He graciously accepted that invitation, bringing with him a long-standing commitment to the development of strong and independent media institutions in our region.”

NMG, the largest media company in East Africa, owns newspapers, radio and TV stations in Kenya, Uganda and Tanzania. Its regional newspaper, the EastAfrican, also publishes a weekly insert about Rwanda called Rwanda Today.

Mr Azizi allayed concerns from journalists about editorial independence, saying: “We are not going to compromise on the independence of our media company because of advertising.”

FULL SPEECH to be published soon…

CORRECTION | Updated March 14, 2026, 09:35: An earlier version of this article incorrectly stated that Mr Azizi addressed journalists at Nation Centre. The correct venue was Serena Hotel.

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