Inside the Shocking Sale of Nation Media Group to Rostam Azizi

NAIROBI, Kenya — The Kenyan media landscape has been rocked by the announcement that the Aga Khan Fund for Economic Development (AKFED) has entered into an agreement to sell its majority stake in Nation Media Group (NMG) to Taifa Limited, a company owned by Tanzanian billionaire Rostam Azizi. While the deal is framed as a strategic business acquisition, political analysts suggest a much more calculated motive: a shift in the control of Kenya’s “Fourth Estate” ahead of the 2027 General Election.

Rostam Azizi is no stranger to high-stakes power plays. A former MP in Tanzania and a business mogul with interests spanning energy, mining, and telecommunications, Azizi is widely regarded as an associate of President William Ruto. Critics argue that this acquisition is “chess, not checkers,” suggesting that the move is a strategic attempt to influence the narrative of the Daily Nation and NTV, two of the most influential platforms in the region, which have recently been critical of the current administration.

The timing of the sale has raised eyebrows across the political divide. With the 2027 elections looming, the acquisition effectively alters the standing of one of the few remaining independent media voices in the country. Analysts point out that with Standard Group already facing financial hurdles, NMG’s transition could complete a broader shift in the Kenyan media ecosystem. There are growing fears that NMG’s historically fierce editorial independence might be compromised in favor of more government-friendly coverage.

Financially, the move is equally intriguing. NMG’s share price has plummeted from a historical peak of nearly Sh400 in 2006 to its current low levels—a staggering 97% drop. From a purely commercial standpoint, the investment is risky given the global decline of print media. However, politically, the value lies in the ability to shift public opinion. Observers predict that NMG may see a resurgence in “profitability” driven not by innovation, but by a potential influx of government advertising revenue in exchange for a softened editorial stance.

As the country prepares for the upcoming political cycle, the stakes couldn’t be higher. This acquisition suggests that the battle for the 2027 narrative has officially begun, and the control of information will be a primary front. For the millions of voters watching from the sidelines, the sale of Nation Media Group serves as a major indicator of how the political landscape is being reshaped behind the scenes.