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NAIROBI, Kenya — Tanzanian tycoon Rostam Azizi, who has emerged as the new majority owner of Nation Media Group, is one of the most powerful and wealthy businessmen in East Africa.

Often described as Tanzania’s first dollar billionaire, Mr Azizi built his fortune through investments in telecommunications, energy, mining and logistics, creating a business empire that stretches across the region and beyond.

While wealth rankings in East Africa fluctuate, Mr Azizi is widely considered among the richest individuals in the region, alongside prominent tycoons such as Mohammed Dewji of Tanzania and Sudhir Ruparelia of Uganda.

The acquisition of a controlling stake in Nation Media Group places the low-profile businessman at the centre of one of the most significant ownership changes in East Africa’s media industry.

How Rostam Azizi made his fortune

Mr Azizi first rose to prominence through the telecommunications sector, where he held a major stake in Vodacom Tanzania, one of the country’s largest mobile network operators.

Over the years he sold portions of that stake in transactions worth hundreds of millions of dollars, cementing his reputation as one of Tanzania’s most influential investors.

His wealth has since expanded into multiple industries, making him one of the region’s most diversified businessmen.

What companies Rostam Azizi owns

Mr Aziz controls a wide network of companies operating across several sectors of the economy.

Taifa Gas Group

Taifa Gas is one of the largest liquefied petroleum gas distributors in East and Southern Africa.

The company has expanded aggressively across the region and recently moved into Kenya.

In 2023, President Dr William Ruto presided over the ground-breaking of a $130 million Taifa Gas LPG terminal at the Dongo Kundu Special Economic Zone in Mombasa, a project expected to boost cooking gas supply in the country.

MIC Tanzania Plc

Mr Azizi also controls MIC Tanzania Plc, the telecommunications company that operates Tigo (now Yas) Tanzania and Zantel.

Caspian Mining

Through Caspian Mining, he runs one of Tanzania’s largest contract mining firms, providing services to global mining companies operating in the country.

Real estate and logistics

His investments also include significant property and logistics holdings across Tanzania, Dubai and Oman.

Was Rostam Azizi involved in politics?

Yes.

Mr Azizi served as Member of Parliament for Igunga constituency in Tanzania from 1994 to 2011 under the ruling Chama Cha Mapinduzi (CCM) party.

He later stepped back from frontline politics to focus on business, although he remains one of the most influential figures in Tanzania’s corporate sector.

Why the Nation Media deal matters

The purchase of a controlling stake in Nation Media Group marks Mr Azizi’s entry into the regional media industry.

Nation Media operates some of the most influential news outlets in East Africa, including Daily Nation, Business Daily, NTV Kenya, NTV Uganda and the Daily Monitor in Uganda.

If completed, the deal would place one of East Africa’s largest media organisations under the control of a Tanzanian billionaire whose business interests span several sectors across the region.