Kenyan President William Ruto announced on Thursday, November 21, 2024, the cancellation of multimillion-dollar agreements with Indian billionaire Gautam Adani, following bribery and fraud indictments against the business magnate in the United States.
In a state of the nation address, President Ruto stated that the decision was based on “new information provided by our investigative agencies and partner nations.” While he did not explicitly name the United States, the remarks coincided with international scrutiny of Adani’s business dealings.
The now-terminated agreements included a controversial deal to modernize Jomo Kenyatta International Airport in Nairobi, Kenya’s capital. Under the proposed arrangement, the Adani Group would have constructed a new terminal and runway and managed the airport for 30 years. The project, however, faced widespread criticism and sparked protests by Kenyan workers, who expressed concerns about potential job losses and deteriorating working conditions.
Additionally, the Adani Group had secured a contract to build power transmission lines in Kenya, a key hub for business in East Africa.
We have made undeniable progress in our country. However, there remains much to be done.
We must continue working together to hasten the delivery of our commitments and change Kenya.
Our forward march is unstoppable.
At the Parliament Buildings, Nairobi County, for the… pic.twitter.com/4ywrdG8GQ0
— William Samoei Ruto, PhD (@WilliamsRuto) November 21, 2024
Speaking on the same day, Kenya’s Energy Minister, Opiyo Wandayi, informed a parliamentary committee that the cancellation was not prompted by any allegations of corruption or bribery on Kenya’s part in signing the agreements.
The developments come in the wake of U.S. prosecutors charging Adani with securities fraud, conspiracy, and wire fraud. He is accused of misleading investors regarding a large-scale solar energy project in India by concealing its connection to an alleged bribery scheme.
The indictments against Adani, one of Asia’s wealthiest individuals, have intensified global scrutiny of his business empire, leading to ripple effects in markets and partnerships across the world.
This decisive action by Kenya underscores the country’s commitment to transparency and integrity in its international agreements.
(AP)
