Wed Nov 27 13:08:43 UTC 2024: ## Kenya Cancels Billions in Adani Deals Following US Fraud Indictment
**Nairobi, Kenya** – Kenyan President William Ruto has abruptly cancelled two major infrastructure deals with the Adani Group, an Indian conglomerate led by billionaire Gautam Adani, following the tycoon’s indictment on fraud charges in the US. The deals, totaling over $2.5 billion, involved a $1.85 billion airport modernization project and a $736 million power line construction contract.
Ruto announced the cancellation during his state-of-the-nation address on Thursday, citing “new information” from Kenyan investigative agencies and international partners. The decision comes a day after US prosecutors charged Adani with orchestrating a $250 million bribery scheme. While Adani Group denies the allegations, President Ruto stated he would not hesitate to take decisive action against corruption.
The airport deal, which would have seen Adani Group manage Jomo Kenyatta International Airport for 30 years, had sparked widespread protests and a strike by airport workers fearing job losses. The power line project also faced scrutiny. While Energy Minister Opiyo Wandayi denied any corruption in the power line deal, the government is now seeking alternative partners for both projects.
President Ruto’s move underscores his commitment to tackling corruption, a pledge he made following previous allegations against his administration. The cancellation of these high-profile deals demonstrates a significant shift in Kenya’s approach to foreign investment and a determination to prioritize transparency and accountability.
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