After Adani's Indictment, Kenya Cancels Deals With His Firm

The Kenyan government on Thursday terminated its agreements with the Adani Group concerning an airport and energy project, hours after Adani Group Chairperson Gautam Adani was indicted in New York on charges related to an alleged multi-billion-dollar bribery and fraud scheme, as reported by AFP.

President William Ruto announced the cancellation of the procurement process for the modernisation of Nairobi's Jomo Kenyatta International Airport (JKIA) and a state-run electricity service involving the Adani Group. In a state of the nation address, Ruto stated that the decision was made based on "new information provided by our investigative agencies and partner nations." While he did not explicitly name the United States, he emphasized, “In the face of undisputed evidence or credible information on corruption, I will not hesitate to take decisive action,” as quoted by AFP.

The agreement with the Adani Group aimed to upgrade JKIA by constructing a new runway and terminal, granting the conglomerate operational control of the airport for 30 years. However, the project sparked protests and a strike by airport workers in September. Critics alleged that the deal would result in deteriorated working conditions and potential job losses, as reported by the Associated Press.

Also Read: “Modi and Adani Hijacked the Nation,” RaGa Demands Immediate Arrest

Gautam Adani's Indictment

The US Department of Justice indicted Gautam Adani, his nephew Sagar Adani, and senior Adani Green executives, accusing them of offering USD 265 million in bribes to Indian state officials to secure solar power contracts. The indictment alleges that Adani Green bribed officials in Odisha, Andhra Pradesh, and possibly other states, including Tamil Nadu, Chhattisgarh, and Jammu and Kashmir, to compel state power distribution companies to purchase solar energy at inflated rates.

The Adani Group has denied the allegations, describing them as “baseless” and asserting its compliance with all legal requirements. Despite the denial, shares of Adani Group companies, including Adani Enterprises, Adani Energy Solutions, Adani Ports, and Adani Green Energy, suffered significant losses, falling by as much as 23 per cent on Thursday.

Also Read: The ‘Adani’ Effect: LIC Loses Nearly 12,000 Crores