Aga Khan Fund sells Nation Media Group to Rostam Azizi

-
Aga Khan Fund for Economic Development (AKFED) has announced an agreement to sell its entire controlling stake in Nation Media Group PLC (NMG) to Taarifa Ltd, a company owned by Tanzanian businessman and billionaire Rostam Azizi (also known as Rostam Abdulrasul Aziz).
Key Details of the Transaction:
1. AKFED is selling 100% of its shareholding in NPRT Holdings Africa Limited, which holds 54.08% of NMG (approximately 92.6 million ordinary shares). This gives Taarifa Ltd effective majority control of the Nairobi-listed media company.
2. The deal ends AKFED's 66-year association with NMG, which dates back to its founding support in 1959.
3. Rostam Azizi, a prominent East African entrepreneur with interests in media (including past involvement with Tanzania's Habari Corporation and Mwananchi Communications, now part of NMG), mining, telecom, real estate, and more, becomes the new majority shareholder through this acquisition.
4. The transaction is subject to regulatory approvals from capital markets authorities in Kenya and potentially other East African exchanges where NMG is listed or cross-listed.
5. Azizi has expressed commitment to supporting NMG's continued growth and independence as one of East Africa's leading media houses, operating brands like Nation, NTV, The EastAfrican, and others across Kenya, Uganda, Tanzania, and Rwanda.
This marks a significant shift in ownership for NMG, East Africa's largest independent media group, amid broader challenges in the traditional media sector. The announcement came via statements from AKFED and has been widely reported by outlets including Nation Africa, Capital FM, TechCabal, and others.

Comments

Post a Comment

Popular posts from this blog

How to commercialize your prototype innovation in Kenya

-
Image
Commercializing a prototype in Kenya involves transforming your innovation from a proof-of-concept stage into a marketable product or service that generates revenue. This process requires protecting your intellectual property (IP), validating market demand, securing funding, and selecting the right business model.  Kenya has a supportive ecosystem with government agencies, grants, and innovation hubs to help.  Below is a step-by-step guide based on established practices and resources. 1. Protect Your Intellectual Property (IP) Before commercialization, safeguard your innovation to prevent copying. In Kenya, IP protection is handled by the Kenya Industrial Property Institute (KIPI). Register your IP : File for patents, trademarks, copyrights, or industrial designs. Patents are crucial for inventions and provide a 20-year monopoly.  Start with a patent search to ensure novelty, then apply via KIPI's online portal. Costs range from KSh 3,000–50,000 depending on the type. Why...
Read more

Important steps to be taken when buying Land in Kenya

-
Image
  Land is a vital asset and acquiring it requires utmost caution to avoid finding yourself in a protracted, unending legal battle. As Kenya's economy bites, there has been increased cases of land fraud.  Land disputes have been so rampant, hence the need for advocacy of future land buyers to be cautious when undertaking land transfer processes. Factors to consider when purchasing land in Kenya 1. Do a land search at the ministry of lands. This enables you to confirm the real owner of the land and know whether it has any legal dispute, loan or unpaid tax. 2. Site visit: Make sure you see the land physically and confirm its boundaries. 3. Land verification: Verify the authenticity of the property at the land registry and confirm if it is freehold, leasehold or communal. 4. Sale agreement: Engage a lawyer and a surveyor for legally sound transaction. 5. Land transfer: Make sure the original titledeed is transferred from the name of the seller to your name. 6. Register your land w...
Read more

How Musk's Neuralink Blindsight will allow the blind to see

-
Image
  Scientists are still stunned by Elon Musk's plan to enable blind people to see, using his Neurolink's Brain Computer Interface chip dubbed Blindsight. Neurolink has already partnered with top Spanish scientists and US Santa Barbara to make a device called Blindsight, a smart Bionic Eye powered by brain implants and AI. Blindsight got the approval of the US Food and Drug Adminstration (FDA), though there have been no human trials. Musk confided that Neurolink will perform its first human implant of Blindsight at the course of 2025. Will Neurolink's Blindsight allow Blind People to see? Blindsight is designed to enable people with total visual impairment, as a result of damaged optic nerve but with intact visual cortex, to see. This is enhanced by bypassing the optic nerve and stimulating the visual cortex to create a visual perception. Visual cortex is part of the brain that receives, integrates and processes visual information relayed from the retina.  Blindsigh...
Read more