The News
The sale of Nairobi-based Nation Media Group, East Africa’s largest media house, to Tanzanian business magnate Rostam Azizi has raised concerns about potential political interference with the region’s most influential news outlets.
The Aga Khan Fund for Economic Development this week sold its majority stake in Nation Media to Azizi’s Taarifa Group, ending the Aga Khan IV family’s 66-year stewardship and marking Kenya’s most significant media ownership change in decades.
Concerns center on Azizi’s ties to regional leaders and the scale of Nation Media’s operations, which employ hundreds of journalists across television, radio, and print in Kenya, Rwanda, Uganda, and Tanzania.
At stake is the group’s editorial independence — and whether its journalists will continue to report freely without fear of state pressure — as well as public trust in one of East Africa’s most influential media institutions.
At a Mar. 11 press conference, Azizi pledged to uphold the company’s editorial standards. “Your legacy will be respected, your institution strengthened, and your role in shaping the future of our region valued,” he said.
Still, some observers remain wary. Former editor-in-chief Mutuma Mathiu questioned who ultimately stands behind the acquisition: “Two questions on people’s minds: Is Mr Rostam a fig leaf for other background investors? And what does the Aga Khan’s decision mean for press freedom in Kenya, East Africa, and Africa in general?”
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Azizi was named Tanzania’s first dollar billionaire by Forbes magazine in 2013. He built his wealth through Taifa Group whose business holdings span mining, aviation, media and energy.
Over the years, the tycoon has maintained close relationships with former Tanzanian heads of state and the current president, Samia Suluhu Hassan.
In Kenya, he has openly shown his closeness with President William Ruto who commissioned Azizi’s $130 million, liquefied gas plant in Mombasa in 2023. His interest in businesses in Kenya has grown in recent years.
Step Back
Nation Media Group owns major newspapers across East Africa, including the Daily Nation, Business Daily, and The EastAfrican. In Uganda it owns the Monitor. And in Tanzania it publishes Mwanaspoti and Mwananchi in Swahili, and The Citizen while in Rwanda it has Rwanda Today and the EastAfrican. It also owns numerous TV and radio stations and news websites.
Shares in Nation Media Group have gained nearly 30% on the Nairobi Stock Exchange since the transaction was announced on Tuesday, giving the company a valuation of around 3.24 billion Kenyan shillings (~$25 million).
Room for Disagreement
Azizi has dismissed concerns that his close relationships with regional leaders could pave the way for government interference. Addressing the press conference on Mar.11, he also denied being close to Ruto, saying he was closer to former President Uhuru Kenyatta and late opposition leader Raila Odinga. “Those are personal relationships that have nothing to do with commercial considerations,” he said.
The View From Tanzania
Tanzanian human rights lawyer Tito Magoti believes the acquisition is a critical case of media capture by business people. “People of his [Rostam Azizi] stature would never advocate for press freedom because it is against their business interest,” said Magoti. He said press freedom runs contrary to a desire to “control the narrative and paint the regimes in the ways that they want.” Magoti said he expects some Nation Media outlets to alter their approach to journalism.