The Aga Khan Fund for Economic Development (AKFED) reportedly gave Tanzanian billionaire Rostam Aziz a 54% share in Nation Media Group (NMG), the biggest media company in East Africa. According to media outlets, the agreement, which is expected to be worth KSh 1.23 billion, ends AKFED's 66-year partnership with NMG.
Forbes called Aziz Tanzania's first dollar billionaire in 2013, according to David Ndii, an advisor to President William Ruto.
Following the acquisition, Mr. Aziz made a commitment to uphold NMG's editorial independence while funding its digital transformation and regional expansion.
He disclosed that he intends to improve the media group's professionalism, institutions, and ability to present East Africa's own story.
Ndindi Nyoro, a Kiharu member of parliament, stated that a Kenyan businessman is responsible for the acquisition of the media outlet. The well-known member of parliament stated that they will not permit the businessman to restrict media freedom.
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