Concerns about press freedom are rising in East Africa after Tanzanian billionaire Rostam Aziz acquired a controlling stake in Nation Media Group, the region’s largest media organisation.
Aziz announced that his company, Taarifa Ltd, had purchased a 54% stake in the group, which owns major outlets such as Daily Nation, Mwananchi and Daily Monitor. The deal still requires approval from media regulators across East Africa.
The acquisition has raised questions about editorial independence because of Aziz’s close political connections. He previously served as a member of Tanzania’s ruling Chama Cha Mapinduzi and has ties with several regional leaders, including William Ruto.
At a press conference in Nairobi, Aziz said the investment was commercial and strategic, promising to support “credible and independent journalism.”
Founded in 1959 by Aga Khan through the Aga Khan Fund for Economic Development, Nation Media Group has long been seen as a pillar of independent journalism in East Africa. Critics say the exit of the development fund ends a model that helped shield the company from political and commercial pressure.
Analysts and journalists say the key issue will be whether the group can maintain editorial independence under its new ownership, particularly with elections approaching in Kenya.
Despite concerns, investors reacted positively to the deal. Shares of Nation Media Group rose more than 28% in two trading days after the announcement, while Aziz pledged new investment to expand the company’s digital platforms.
