Home Money & Business Business Kenya terminates airport and energy agreements with Adani group following U.S. charges against the businessman.

Kenya terminates airport and energy agreements with Adani group following U.S. charges against the businessman.

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NAIROBI, Kenya — During a state address on Thursday, Kenya’s President William Ruto announced the termination of significant airport and energy agreements involving Indian billionaire Gautam Adani. This decision follows recent indictments in the United States that accuse Adani of engaging in bribery and fraud.

President Ruto emphasized that the cancellation was based on “new information provided by our investigative agencies and partner nations,” though he did not specify that the United States was among those partners.

The agreements that were set to be scrapped included plans for modernizing Nairobi’s main airport, which involved constructing an additional runway and terminal. The Adani group was expected to operate the airport for a duration of 30 years.

This deal had faced significant backlash in Kenya, leading to protests against Adani and a strike by airport employees who feared it would adversely impact their working conditions and potentially result in job losses.

Additionally, the Adani group was contracted to build power transmission infrastructure in Kenya, a key player in East Africa’s business sector.

Energy Minister Opiyo Wandayi addressed a parliamentary committee on the same day, affirming that there had been no allegations of bribery or corruption concerning Kenya’s involvement in these agreements.

Meanwhile, U.S. authorities have charged Adani with securities fraud and conspiring to commit wire fraud, stemming from accusations that he misled investors regarding a large solar energy initiative in India, which was allegedly underpinned by a bribery scheme.