Tanzanian billionaire Rostam Aziz has emerged as a major figure in East Africa’s corporate landscape following a landmark deal that will see him become the majority shareholder in Nation Media Group (NMG), one of the region’s largest media houses.
The acquisition, announced on March 9, 2026, marks a significant shift in ownership at the Nairobi-based media company.
Aziz acquired the stake through his private investment vehicle, Taarifa Limited, which agreed to purchase 100 per cent of NPRT Holdings Africa Limited from the Aga Khan Fund for Economic Development (AKFED).
The transaction grants Taarifa indirect ownership of NMG’s 54.08 per cent stake, equivalent to 92,618,177 shares.
The deal effectively ends AKFED’s 66-year partnership with Nation Media Group, a relationship that began in 1959, while positioning Taarifa to steer the media company’s digital transformation. NMG will, however, retain its public listing on the Nairobi Securities Exchange.
Early life and education
Aziz was born on August 21, 1964, in Dodoma, Tanzania, and grew up in a family deeply involved in business and community service. He attended both primary and secondary school in Igunga District in the country’s Tabora region.
Seeking higher education abroad, he later moved to the United Kingdom, where he earned a bachelor’s degree in economics from the University of Exeter.
Entry into politics
Before fully committing to business, Aziz had a notable political career in Tanzania. In 1994, he was elected Member of Parliament for the Igunga constituency under the ruling Chama Cha Mapinduzi (CCM) party.
He held the seat until 2011, winning several re-elections during his tenure. Between 2005 and 2007, Aziz rose within the party ranks and was appointed CCM National Treasurer.
He also served as a member of the party’s Central Committee and Politburo until his departure from active politics in 2011.
Building a business empire
Aziz began his entrepreneurial journey in the early 1990s through his family’s trading business before branching into independent ventures in Tanzania’s agriculture and manufacturing sectors.
His biggest breakthrough came in the telecommunications industry during the 2000s when he co-founded Vodacom Tanzania and held a significant stake estimated at between 18 and 35 per cent.
In 2011, he stepped down from parliament to focus on expanding his business interests. Two years later, in 2013, he was recognised by Forbes as Tanzania’s first dollar billionaire, with an estimated net worth exceeding $1 billion.
In 2014, he sold a 17 per cent stake in Vodacom Tanzania through Cavalry Holdings in a deal valued at approximately $250 million.
Over the past decade, Aziz has broadened his investment portfolio across several industries.
He developed Taifa Gas, which has grown into one of the leading liquefied petroleum gas (LPG) suppliers in the region. His holdings also include stakes in MIC Tanzania, which acquired telecom operators TIGO Tanzania and Zantel in 2022 for about $100 million.
Beyond telecommunications and energy, Aziz has invested in mining through Caspian Mining, manufacturing through Ace Leather, and property developments in Dubai and Oman.
Expanding investments in Kenya
Aziz has also been steadily expanding his investments in Kenya. In 2022, he announced plans to build a Taifa Gas liquefied petroleum gas plant at the Dongo Kundu Special Economic Zone in Mombasa, a project valued at about $130 million.
The facility was commissioned in 2023 by President William Ruto and was described as the largest private foreign direct investment in Kenya since 1977.
In 2025, a court upheld the development of the Mombasa LPG terminal project after legal challenges had sought to block its construction.
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