Kenya cancels airport and energy deals with Adani Group after US indictments

US prosecutors indicted Gautam Adani this week on charges he duped investors in a massive solar energy project in India

AP

Nairobi, Updated At : 11:23 PM Nov 21, 2024 IST

Kenya's President William Ruto addresses a joint sitting of Parliament, with members of both the Senate and the National Assembly of the 13th Parliament, at the National Assembly Chamber in Nairobi, Kenya, on November 21, 2024. Reuters

Kenya’s President said on Thursday he has cancelled multimillion-dollar airport expansion and energy deals with Indian tycoon Gautam Adani after US bribery and fraud indictments against one of Asia’s richest men.

President William Ruto in a state of the nation address said the decision was made “based on new information provided by our investigative agencies and partner nations.” He didn’t specify the United States.

The Adani Group had been in the process of signing an agreement that would modernise Kenya’s main airport in the capital, Nairobi, with an additional runway and terminal constructed, in exchange for the group running the airport for 30 years.

The widely criticised deal had sparked anti-Adani protests in Kenya and a strike by airport workers, who said it would lead to degraded working conditions and job losses in some cases.

The Adani Group had also been awarded a deal to construct power transmission lines in Kenya, East Africa’s business hub.

Also on Thursday, Energy Minister Opiyo Wandayi told a parliamentary committee there had been no bribery or corruption involved on Kenya’s part in signing that deal.

US prosecutors indicted Adani this week on charges he duped investors in a massive solar energy project in India by concealing that it was facilitated by an alleged bribery scheme. He was charged with securities fraud and conspiracy to commit securities and wire fraud.