Tanzania, March 10 -- The Aga Khan Fund for Economic Development S.A. (AKFED) has entered into an agreement to sell its 100 percent shareholding in the Nation Media Group PLC (NMG) to Taarifa Ltd, a company owned by Tanzanian businessman Rostam Azizi.

Mr Azizi has vast business interests across multiple sectors, including media, mining, telecommunications, agriculture, real estate, port facilities, energy, and construction.

AKFED in a statement Tuesday announced that it had entered into an agreement to sell its entire shareholding in NPRT Holdings Africa Limited (NPRT) to Taarifa Ltd. NPRT holds a 54.08% shareholding in the Nation Media Group.

The transaction marks the conclusion of AKFED's 66-year association with NMG, which began in ...