I would trim the jpg to the edge of the map. With a simple image software (irfanview).
Start a new arcmap document.
Insert vector data for as much similar data as you can find. Physical infrastructure (roads, highways) and boundaries (international, district) municipalities etc.
Set the document coordinate system to the one mentioned in your question. This will be the output projection.
Insert the image and zoom to the vector location covered by the image.
This is where you want the image to go.
Turn on the georeferencing toolbar.
Be sure your jpg is the selected image and fit to screen.
Now locate intersections of roads and boundaries along the outside edge of the image.
Use the match points tool.
Best practice is clockwise and don't veer too deeply inside the image.
Start with at least 4 match points spread evenly around. To see if it aligns easily. If not you can open the match point list and delete.
Do this back to 1 point and start over if need be.
Also you can export the list of points.
With knowing the exact projection you should be able to accomplish with few points, to place scale, rotate and done.
After this it is your choice of...
- Update georeferencing. Probably sufficient if you get a good match.
- Rectify. This completely re-writes the image.
NOTE that you should at the least update the referencing and then rectify. As the match points disappear after either.